Bitcoin, where do we go from here?
Hello all!
Im back with some more analysis for everyone!
The million dollar question lately, due to the dominance in the market, seems to be where will Bitcoin go next?!
Cryptocurrency volatility has been around from the beginning and we don't expect it to go anywhere anytime soon!
MACD is showing bullish divergence while bitcoin price consolidates, giving hints the uptrend may continue soon. Also if we note the TSI(True strength index,) we see that price levels around 30k are gaining more strength as opposed to the earlier part of our massive drop (start of May.)
If we look the top orange line and the blue trend line beneath that forms a falling wedge, we can see the bullish pattern.
Also note the bottom orange line around the 30k area where bulls seem to step in on volume to buy.
Anything can happen in crypto and always do your own research, but it seems the FUD is wearing thin on bulls.
We are also on the lower end of RSI at 38, nearing oversold. Although an RSI under 50 may indicate the bears stay in control.
In this case if the bears win this battle, we have a nice support near the 24k range.
(**Based on a model we created that Bitcoin has stayed true to since the 14k breakout, we have 2021 finishing above a 60k Bitcoin, not investment advice.)
Best luck to all, hope you enjoy, and more to come soon! Stay tuned!
Come join us for stock market news, options activity, crypto news, trades, and more!
kick-assets.com/join/
Im back with some more analysis for everyone!
The million dollar question lately, due to the dominance in the market, seems to be where will Bitcoin go next?!
Cryptocurrency volatility has been around from the beginning and we don't expect it to go anywhere anytime soon!
MACD is showing bullish divergence while bitcoin price consolidates, giving hints the uptrend may continue soon. Also if we note the TSI(True strength index,) we see that price levels around 30k are gaining more strength as opposed to the earlier part of our massive drop (start of May.)
If we look the top orange line and the blue trend line beneath that forms a falling wedge, we can see the bullish pattern.
Also note the bottom orange line around the 30k area where bulls seem to step in on volume to buy.
Anything can happen in crypto and always do your own research, but it seems the FUD is wearing thin on bulls.
We are also on the lower end of RSI at 38, nearing oversold. Although an RSI under 50 may indicate the bears stay in control.
In this case if the bears win this battle, we have a nice support near the 24k range.
(**Based on a model we created that Bitcoin has stayed true to since the 14k breakout, we have 2021 finishing above a 60k Bitcoin, not investment advice.)
Best luck to all, hope you enjoy, and more to come soon! Stay tuned!
Come join us for stock market news, options activity, crypto news, trades, and more!
kick-assets.com/join/
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