We have a weekly divergence with strong volume and double tap on the 50 EMA
Price should not close below the 50EMA TWO weeks in a row otherwise the bull run is over.
As we have defended this line on two attempts to break it and the last one was defended with strong volume, that suggests we have a bottom at 74k
There is also divergence on the daily chart on MACD and RSI. volume profile on the weekly for buying exceeds selling.
Daily chart has 3 clear drops from the peak of 110k so now time for a rise back to the upper band on the weekly chart.
We are above the 4 hour 50EMA and holding that line
Price should not close below the 50EMA TWO weeks in a row otherwise the bull run is over.
As we have defended this line on two attempts to break it and the last one was defended with strong volume, that suggests we have a bottom at 74k
There is also divergence on the daily chart on MACD and RSI. volume profile on the weekly for buying exceeds selling.
Daily chart has 3 clear drops from the peak of 110k so now time for a rise back to the upper band on the weekly chart.
We are above the 4 hour 50EMA and holding that line
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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.