BTC ready for next leg up
Updated
The way we are dancing on the 1.618 fib extension - which coincides with the 55EMA - and the next unlock of GBTC being on around February 3., I'd say the local bottom is in and the next stop is the 2.618 at around 46k which would give us the higher high we want to see and prime us for further upside. MACD looks like it's ready to roll over as well if you look closely and OBV just had a cool down it needs to extend higher.
I have bets at the 144EMA as this is not only my favorite long term trend indicator but was also the most significant resistance in the last bull cycle. But, I don't think it's time just yet to revisit
I have bets at the 144EMA as this is not only my favorite long term trend indicator but was also the most significant resistance in the last bull cycle. But, I don't think it's time just yet to revisit
Note
Did not expect it to react so suddenly, but who am I to complain. Looks good, but we have to close above 42k AND take out the last pivot high on the OBV which seems not so super sure right now. Remember, we are still ranging until we decisively break and settle above ATH.
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