Bitcoin chart makes my mind peace-loving
There is several big events showing Bitcoin as bullish. Being aware of them will make your mind clear and peaceful.
First, the price bounced for the third time on the TR lower trend-line. This one pointing up.
The other is not as much as noticeable, but as much important.
As our old friend Wyckoff pointed out, in an accumulation trading-range, the bearish volume tend to get lower and lower. This is shown by the descending red line on the screenshot.
Notice how only buying volume broke it, as the green arrows show.
Short-time analysis
This 4H chart demonstrates how sellers are losing weight:
- The price makes higher lows and higher highs
- On the RSI we see that despite the bears pushing the momentum down, the price doesn't follow their pessimism
Right now, the "uptrend" is still shy, there is no real volume nor real move. A fourth retest of the daily support shouldn't be excluded.
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Hoping it goes back up, will be interesting how the next few weeks and months go.
I think the more it touches the bottom line the more it is likely to break the bottom trend. Something that happened to gold price chart which led to long term bear market for gold.
Btc have to going up from now
i still thing we can go much lower before we changre the trend up
I made a large bet with a friend that BTC would be above 15K by the end of the year! Easy money!
I hope this bet is secured by a smart contract. No cheating allowed on bets 😜
Easy money!
Very insightful post. I do agree on the Bullish trend of Bitcoin. Hope we will reach a higher ground.
Yeah..Nice review,,
Bitcoin/Dollar chart is so well,,I hope this will increase on the next month,,,
Thanks for sharing
Nice one!
Yeah, that's true that there are several big events showing Bitcoin as BULLISH.
Thanks bro😊
I'm so new to trading, so I don't "really" get this. I know a lot of people are waiting on this run.
However the reason I'm replying is to tell you I ABSOLUTELY LOVE YOUR DISCLAIMER!!!😁😁
Yeah my disclaimer have a lot of success 😜
Really bitcoin has come to stay. I love trading on bitcoin more than the market stock. Though for some days now, crypto market has been really unfair to me. But i always feel motivated to push harder.
Bitcoin is the 21th century's money.
Market is nor fair nor unfair 😉
It won't adapt to you, you have to adapt to it