Situation Report: Bitcoin
Look at the TK complex, it's all wide open and whatnot, but we're inside it. In the time since the ATH whenever price enters a wide open TK it likes to travel a bit.
While the 1D does show a very humble forecast for the first throws of Q1, the current situation is oversold and overcoming key resistances.
Both a bull div and a bear div are present, which isn't atypical for high volatility. Divs in my opinion are dubious at best on their own.
It is still definitely a bear trend still, the recent bump up has so far only amounted to a pulling out of a transonic nosedive; not a trend reversal on longer timeframes.
Technically, this gives the bear div extra mana, but with all the fundamental factors in the world right now a lot of private citizens stand to benefit from cryptocurrencies and on-ramps like Coinbase are basically setting up a massive internet crypto crack den for a plethora of coins.
Who knows, anything can happen. Bullish action in the TK is bullish though, [c-clamp gang] overall it's still a great range to hedge in.
While the 1D does show a very humble forecast for the first throws of Q1, the current situation is oversold and overcoming key resistances.
Both a bull div and a bear div are present, which isn't atypical for high volatility. Divs in my opinion are dubious at best on their own.
It is still definitely a bear trend still, the recent bump up has so far only amounted to a pulling out of a transonic nosedive; not a trend reversal on longer timeframes.
Technically, this gives the bear div extra mana, but with all the fundamental factors in the world right now a lot of private citizens stand to benefit from cryptocurrencies and on-ramps like Coinbase are basically setting up a massive internet crypto crack den for a plethora of coins.
Who knows, anything can happen. Bullish action in the TK is bullish though, [c-clamp gang] overall it's still a great range to hedge in.
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.