According to my last BTC review:
Bitcoin does everything clearly according to the scenario.
We stayed above 20.500 - great, we are strong.
On the strength of the whole market (SPY) we were able to get back above the resistance zone.
Now we need to see if we can hold at the 50 EMA.
I wouldn't say Bitcoin is strong in a big picture, but the key is correlation with the market.
So let's see how Bitcoin behaves if the market does a pullback.
Bitcoin does everything clearly according to the scenario.
We stayed above 20.500 - great, we are strong.
On the strength of the whole market (SPY) we were able to get back above the resistance zone.
Now we need to see if we can hold at the 50 EMA.
I wouldn't say Bitcoin is strong in a big picture, but the key is correlation with the market.
So let's see how Bitcoin behaves if the market does a pullback.
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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.