BTC moving to reclaim high levels
Hey guys... I'm on the daily and using pitchfork tool for this analysis. Whether this chart pleases you, be kind still to drop a ❤ 💙 on the like button.
I really like and expect a bullish reversal for bitcoin post-march and seemingly my bias is in tandem with pitchfork.
We have seen a nice bounce from the p3 line... seeking to test the p1 (red) line i assume - this will bring us to 45k. That actually will still depend of the outcome of macroeconomic events - like the FOMC meeting today, tax filing round up, the rumoured ban on mining in UK , and offcourse the Ukraine invasion crisis.
Sequel to the FOMC today, here are my expectations...
🟣 0.00 – expect a full blown bullish reversal.
🟡 ~0.25bp rise – we could reclaim 45k not long
🟠 <0.5bp – bad but won't be worse off the local support
🔴 >0.5 will breed a bloody market
However, i think the fundamentals are unaffected by this as we continue to see accumulation stats from glassnode onchain reports. The capitulation as expected by most market participants is likely not going to play out following the formation of the uptrend pitchfork tool. Stay tuned for further confirmation
I really like and expect a bullish reversal for bitcoin post-march and seemingly my bias is in tandem with pitchfork.
We have seen a nice bounce from the p3 line... seeking to test the p1 (red) line i assume - this will bring us to 45k. That actually will still depend of the outcome of macroeconomic events - like the FOMC meeting today, tax filing round up, the rumoured ban on mining in UK , and offcourse the Ukraine invasion crisis.
Sequel to the FOMC today, here are my expectations...
🟣 0.00 – expect a full blown bullish reversal.
🟡 ~0.25bp rise – we could reclaim 45k not long
🟠 <0.5bp – bad but won't be worse off the local support
🔴 >0.5 will breed a bloody market
However, i think the fundamentals are unaffected by this as we continue to see accumulation stats from glassnode onchain reports. The capitulation as expected by most market participants is likely not going to play out following the formation of the uptrend pitchfork tool. Stay tuned for further confirmation
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