Bitcoin Weekly coming to decision time
As we can see on the weekly chart, PA os now coming to the upper trendline of the long Term descending channel
Not only This but on the daily chart we can clearly see how it is also coming to the Local 4.236 Fib Circle ( Red circle) - This is often a point of Rejection as it has been on many occasions in thie "Cycle"
https://www.tradingview.com/x/P60ddz1C/
The Daily MACD is OverBought, as is the StochRSI, which leads me to think of a Pull back, which is LONG over Due in my opinion.
The pull back may only go to the 1st dashed line but I think the 2nd is more likely if the Bulls decide to let PA cool off Fully before the next push
This would provde a very good buying opertunity
Not only This but on the daily chart we can clearly see how it is also coming to the Local 4.236 Fib Circle ( Red circle) - This is often a point of Rejection as it has been on many occasions in thie "Cycle"
https://www.tradingview.com/x/P60ddz1C/
The Daily MACD is OverBought, as is the StochRSI, which leads me to think of a Pull back, which is LONG over Due in my opinion.
The pull back may only go to the 1st dashed line but I think the 2nd is more likely if the Bulls decide to let PA cool off Fully before the next push
This would provde a very good buying opertunity
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.