Bitcoin potential equilibrium at the top
Hey guys, hope ya'll doing well after the big Bitcoin party! ;)
Our grandpa almost touched 4H 12 EMA and is right now still in a very healthy consolidation mode after the big spike. We have the Highs at 7.600, the lows at 7.250, and after we have broken 2 inside bars on the 4H, we have now the potential for an equilibrium playing out at the top of the move between those 2 ranges. Even if we break to the downside, we have so much room for the 4H 26 EMA, the bulls have nothing to fear up until the 6.8-7k. region.
Please note the relative strength of BTC compared to the alts right now, which have retraced much more significantly: this can definitely be due to fundamentals regarding a Bitcoin ETF coming up in August.
So: all in all, our granpda BTC is definitely the strongest candidate to play as a crypto bull right now! Keep an eye on that, I wish you a good trading! ;)
If you had some value from my analysis, please like & subscribe so you don't miss it next time! ;)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
Our grandpa almost touched 4H 12 EMA and is right now still in a very healthy consolidation mode after the big spike. We have the Highs at 7.600, the lows at 7.250, and after we have broken 2 inside bars on the 4H, we have now the potential for an equilibrium playing out at the top of the move between those 2 ranges. Even if we break to the downside, we have so much room for the 4H 26 EMA, the bulls have nothing to fear up until the 6.8-7k. region.
Please note the relative strength of BTC compared to the alts right now, which have retraced much more significantly: this can definitely be due to fundamentals regarding a Bitcoin ETF coming up in August.
So: all in all, our granpda BTC is definitely the strongest candidate to play as a crypto bull right now! Keep an eye on that, I wish you a good trading! ;)
If you had some value from my analysis, please like & subscribe so you don't miss it next time! ;)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
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