BTC - New 2023 High
Hello traders, BTC has made a new 2023 high!!! Let's discuss based on the charts why this is.
The chart on the left is the daily chart and the chart on the right is the weekly chart. We will begin with the daily chart. Please refer to "BTC - Massive Weekly Volatility Incoming"https://www.tradingview.com/chart/BTCUSDT/X9Hyiaqv-BTC-Massive-Weekly-Volatility-Coming/ to see our prediction for this breakout. The first confirmation of this breakout was the break of our parallel channel which was confirmed on June 20th. The Second confirmation was when our RSI downtrend was broken. This was confirmed on June 19th. Yesterday, upon the daily candle open we started to bounce off of overbought conditions (on our RSI) which should indicate this move could have much more room to the upside.
The chart on the right is the weekly and the main thing we want to point out is from our prediction in our post "BTC - Right on Track for its 6 Month Momentum Move"https://www.tradingview.com/chart/BTCUSDT/KZ5De656-BTC-Right-on-Track-for-its-6-Month-Momentum-Move/. In this post we were examining how roughly
every 6 months BTC's weekly Stoc. RSI enters oversold conditions and once we see the blue line cross above the orange BTC sees a massive surge in price. Current day, we can see how BTC's Stoc. RSI has crossed above the orange line and is trying to break out of oversold conditions. Already this has lead to a 26% pump with more upside looking likely over the next few weeks/months.
The chart on the left is the daily chart and the chart on the right is the weekly chart. We will begin with the daily chart. Please refer to "BTC - Massive Weekly Volatility Incoming"https://www.tradingview.com/chart/BTCUSDT/X9Hyiaqv-BTC-Massive-Weekly-Volatility-Coming/ to see our prediction for this breakout. The first confirmation of this breakout was the break of our parallel channel which was confirmed on June 20th. The Second confirmation was when our RSI downtrend was broken. This was confirmed on June 19th. Yesterday, upon the daily candle open we started to bounce off of overbought conditions (on our RSI) which should indicate this move could have much more room to the upside.
The chart on the right is the weekly and the main thing we want to point out is from our prediction in our post "BTC - Right on Track for its 6 Month Momentum Move"https://www.tradingview.com/chart/BTCUSDT/KZ5De656-BTC-Right-on-Track-for-its-6-Month-Momentum-Move/. In this post we were examining how roughly
every 6 months BTC's weekly Stoc. RSI enters oversold conditions and once we see the blue line cross above the orange BTC sees a massive surge in price. Current day, we can see how BTC's Stoc. RSI has crossed above the orange line and is trying to break out of oversold conditions. Already this has lead to a 26% pump with more upside looking likely over the next few weeks/months.
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