Initially we can see we got the expected bounce in approximatly the are we expected it due tot he MACD reaching the bounce zone near Neutral.
Currently, PA is hoovering around the Marker near the Circle.
I did expect that to take longer and so the PA would be within the circle but I am not complaining
As it stands of today. we may still see PA reach that circle as the Daily chart shows.
https://www.tradingview.com/x/qw9h7l8w/
Shoudl PA range across, it would take 1 whole month to reach the centre. I would be surprised if that happens as Weekly MACD is only just returning to BULLISH and the Daily still has plenty of Room to conintue its bullish climb.
BUT, and I do mean this seriously, We could see a reversal and return to Bearish still.
This has happened before
https://www.tradingview.com/x/5MT4p0FO/
So, Lets remain cautious for now, even though we are near the Neutral line and sentiment predicts a further push higher, Caution is the better part of Valor.
But on the Longer Term, Which Path are we taking >?
We have begun rising right between the two options and, so for now, I am inclinded to Favour the Dashed Arrow that points to a 250K ATH.
And to many extents, this will still follow the Fractal, even if we are now below....
The amount of Money required to push Bitcoin up into the Bold Arrows Path and Get PA back ontop of the Fractal is truly Eye watering.
But I will Always say Never say Never.
Bitcoin is on a Cross roads. As I have mentioned in other posts, PA is under a VERY Long Term line Arc of resistance right now.
The chart for this is beow. this is a rough version but clearly shows the problem
https://www.tradingview.com/x/Rwz7nEx1/
To break over this, we need to Pass and remain above 118K USD
On the Fracta, this region os part of a Sustained push higher, as PA would normaly do in an area of High resistance...To Break through.
And we are sitting Just below this point right now....With the ability to push through
We have to wait and see which arrow we follow....My bet ois on the dashed for now....
Time will always tell us.....
Stay safe everyone.....
Currently, PA is hoovering around the Marker near the Circle.
I did expect that to take longer and so the PA would be within the circle but I am not complaining
As it stands of today. we may still see PA reach that circle as the Daily chart shows.
https://www.tradingview.com/x/qw9h7l8w/
Shoudl PA range across, it would take 1 whole month to reach the centre. I would be surprised if that happens as Weekly MACD is only just returning to BULLISH and the Daily still has plenty of Room to conintue its bullish climb.
BUT, and I do mean this seriously, We could see a reversal and return to Bearish still.
This has happened before
https://www.tradingview.com/x/5MT4p0FO/
So, Lets remain cautious for now, even though we are near the Neutral line and sentiment predicts a further push higher, Caution is the better part of Valor.
But on the Longer Term, Which Path are we taking >?
We have begun rising right between the two options and, so for now, I am inclinded to Favour the Dashed Arrow that points to a 250K ATH.
And to many extents, this will still follow the Fractal, even if we are now below....
The amount of Money required to push Bitcoin up into the Bold Arrows Path and Get PA back ontop of the Fractal is truly Eye watering.
But I will Always say Never say Never.
Bitcoin is on a Cross roads. As I have mentioned in other posts, PA is under a VERY Long Term line Arc of resistance right now.
The chart for this is beow. this is a rough version but clearly shows the problem
https://www.tradingview.com/x/Rwz7nEx1/
To break over this, we need to Pass and remain above 118K USD
On the Fracta, this region os part of a Sustained push higher, as PA would normaly do in an area of High resistance...To Break through.
And we are sitting Just below this point right now....With the ability to push through
We have to wait and see which arrow we follow....My bet ois on the dashed for now....
Time will always tell us.....
Stay safe everyone.....
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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.