Bitcoin USDT Daily
There is little doubt that the Bitcoin Bulls have shown the world that BTC is far from over and that its uniqueness in being able to trade 24/7 has advantages
In fact, BTC has Many advantages, including use cases. Gold for instance, while no longer associated with currencies like £ or $, has little use other than to store value and that is a "on demnd" cycle
But is BTC treading on thin ice right now ? Weekly and Daily MACD still in good shape although the StochRSI is overbought but on lower timeframes, MACD is overbought
All points towards a range or pull back to support in the future. What the Bulls maybe trying to do is raise the PA enough, so that when the FED (The DXY support group ) raise Rates, PA qill have enough "in the bag" to absorb what ever pull back may take place, with out loosing gains.
As we can see from this chart, PA has broken through major lines of resistance and now sits in "Clean Air" with a Lot of support below.
Long Term, Mid / Late Summer may well prove to be a hurdle for BTC and will smother PA till 2024
Make Hay while the sun shines
In fact, BTC has Many advantages, including use cases. Gold for instance, while no longer associated with currencies like £ or $, has little use other than to store value and that is a "on demnd" cycle
But is BTC treading on thin ice right now ? Weekly and Daily MACD still in good shape although the StochRSI is overbought but on lower timeframes, MACD is overbought
All points towards a range or pull back to support in the future. What the Bulls maybe trying to do is raise the PA enough, so that when the FED (The DXY support group ) raise Rates, PA qill have enough "in the bag" to absorb what ever pull back may take place, with out loosing gains.
As we can see from this chart, PA has broken through major lines of resistance and now sits in "Clean Air" with a Lot of support below.
Long Term, Mid / Late Summer may well prove to be a hurdle for BTC and will smother PA till 2024
Make Hay while the sun shines
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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.