Bitcoin - USD Daily chart
As we can see, Bitcoin PA is getting to a point where it needs to react.
The 100EMA(Blue) just crossed over the 200 ( Yellow) and so now the EMA's are in Bullish order
However, you can see the MACD below is turning BEARISH as very overbought now but RSI is Neutral and StochRSI is oversold
This alll leads to an open book on which way Pa will go BUT the real thing to watch is now how PA is gettign Squeezed between strong trendlines, with an apex around Mid May.
Given the Longer Term MACD is overbought, this could point towards this long awaited Dip in price, which would be a great buying opportunity.
We also have the Local 3.618 fib circle to pass through before that apex. In the past, these have tended to be fairly neutral But PA has moved tactic , as can be seen by the Bullish way PA pushed through the 2.618
In th e longer term, the REAL test for Bitcoin is that Long Term Diagonal Trendline which is STRONG. BTC needs to make sure it is good shape before trying to push through that
The 100EMA(Blue) just crossed over the 200 ( Yellow) and so now the EMA's are in Bullish order
However, you can see the MACD below is turning BEARISH as very overbought now but RSI is Neutral and StochRSI is oversold
This alll leads to an open book on which way Pa will go BUT the real thing to watch is now how PA is gettign Squeezed between strong trendlines, with an apex around Mid May.
Given the Longer Term MACD is overbought, this could point towards this long awaited Dip in price, which would be a great buying opportunity.
We also have the Local 3.618 fib circle to pass through before that apex. In the past, these have tended to be fairly neutral But PA has moved tactic , as can be seen by the Bullish way PA pushed through the 2.618
In th e longer term, the REAL test for Bitcoin is that Long Term Diagonal Trendline which is STRONG. BTC needs to make sure it is good shape before trying to push through that
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