Hi all, clear descending triangle pattern (usually bearish). Price got rejected at 0.618 Fib level, which I would consider as normal pullback. RSI is in uptrend, but Stoch RSI (which I would consider more appropriate in ranging markets) is in overbought area. MACD crossed bullish but is still below midline. Volume is low which could mean another bearish impulse. Next 4-6 hours should be decisive. Short term bullish scenario: Close above green descending trendline. Bearish scenario: Close below red horizontal line (of descending triangle). ------------ Comments are welcome. Please like & follow for more TA. DISCLAIMER: This is neither a trading nor a financial advice. You are responsible for your own actions so do your own research.
As an longterm investor who invested much earlier than most of all, I still think that btc will go up again. Before this there is a cycle that needs to be completed all the way. So lets have a look at the base trend.. There are still 2 lines below the actual value of btc. For sure the amount of people buying in is alrady growing but we all know that this whole market is based on what we call whales or maybe institutional investors. They will wait until the very end, just because they can. Wait with all kind of margin leverage until there is a clear patarn. We will see it when it's time (very long candle shadow on the weekly)