Is April Bullish for Bitcoin ?
In this Heiken Ashi chart ( used to iron out all the noise) we can see that it is not always a Guarantee that April is Bullish for Bitcoin. In fact, it is nearly 50 / 50
6 RED to 8 GREEN months since 2010
So where does that leave us with choices to make as we see PA drop a little ( it is still in range and remains so till we loose 61K Usdt)
The Top indicator is the RSI, a Must have to any trader. on the lines we see that RSI was under its MA 8 times over the April Months, Twice rising to hit it and cross over. That means that RSI was mostly oversold.
Currently though, the RSI is up high but not yet fully overbought.
The Next indicator is the BULL BEAR table - Orange for Bulls and Red for Bears and it is a close call at 7 all, though is could be said that some are marginal as on a cross over.
Next is the BTC.D and its MA. This doesn't really begin till 2016 when ALTS appeared. And as you can see, only Twice since than, has BTC.D been over its own MA, Now being one of them.
Ahain, this shows, mostly that Bitcoin was Not the Dominant asset in April.
The Bottom indicator is the Price (red) versus Hash rate ( yellow)
This shows the Hash rate 8 times above the price range. But foir thge klast 2 years, including now, we are way over the hash rate with price and as history shows us, we may see a Drop.
BUT, Halving is coming and as we have seen in other charts, Post Halving does see a Levelking out of PA or a Dip usualy..HOWEVER, we now have the ETF issue and even more than that, we have a shorinking supply of Bircoin available to buy.
SO, Is April a Good month for Bitcoin......In the past, it has been Hit andmiss as the candles show but we ar enow facing a completely different scenario these days and the expectation is that BTC Will continue to rise after a short "Rest"
Currently, BTC is finaly gettign to the neautral RSI on the Daily charts and OverSold on Lower...
The Halving is Sooon, with in the next few weeks......expected around 20th
If BTC Suges after that, Will it take ALTS with it....MAYBE
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