On this chart I have looked at some EMA's and MA's and also the VPVR point of control on the daily for BTC.
The lighter blue represents the 30EMA, yellow 21EMA, green 55EMA which we have seemed to all pass. The purple is the 200MA and deep blue 30MA. We have clearly passed and continue to pass the 30MA and are very close to the 200MA.
The volume is steady though still low, and the VPVR shows the current PoC would be the $7220 mark or there abouts.
The delevoping volume area to the upside looks to be around $9Ks/$10Ks mark, and to the downside around the $6550/$6580-ish mark.
After clearing the $7200s on the VPVR and continuing upwards the next target I would look at if this uptrend continues would be within the 8Ks to $8100s, possibly $8600 mark.
I still hold a longer term bias to the downside and think this could be a dead cat, or as some say 'the shake out before the break out'.
Again, given the Halvening and current economic situation, I think it is an uncertain market to trade, I think personally this uptrend is a dead cat pump before the Halvening and again it is to shake out alot of SL and FOMO buyers/traders who are jumping on the pump, although the TA looks different as the days go by, and different on almost all time frames. I am just posting what I can see using some indicators and my own personal opinion.
The next 2 months are going to be crazy price ction IMO and probably won't settle down until mid June or further ahead.
As I post his, BTC has gained 2.5% in the past 6hrs, but I can't help but think there is heavy manipulation in the market right now although I may just be doubtful of the pump. I still think we are in for a pullback, maybe not as far as before but most certainly we cannot keep going up in this manor IMO.
Just my thought for this morning, maybe it helps, maybe it doesn't. My charts are for my own comparison and to refer back to in the future. I would not urge anyone to take anything I say as advice, I am simply speculating on a speculative market that changes each and every day.
Thank you for taking the time to look at the chart and any opinions are always valued as I like to see things from others perspectives to compare to my own.
The lighter blue represents the 30EMA, yellow 21EMA, green 55EMA which we have seemed to all pass. The purple is the 200MA and deep blue 30MA. We have clearly passed and continue to pass the 30MA and are very close to the 200MA.
The volume is steady though still low, and the VPVR shows the current PoC would be the $7220 mark or there abouts.
The delevoping volume area to the upside looks to be around $9Ks/$10Ks mark, and to the downside around the $6550/$6580-ish mark.
After clearing the $7200s on the VPVR and continuing upwards the next target I would look at if this uptrend continues would be within the 8Ks to $8100s, possibly $8600 mark.
I still hold a longer term bias to the downside and think this could be a dead cat, or as some say 'the shake out before the break out'.
Again, given the Halvening and current economic situation, I think it is an uncertain market to trade, I think personally this uptrend is a dead cat pump before the Halvening and again it is to shake out alot of SL and FOMO buyers/traders who are jumping on the pump, although the TA looks different as the days go by, and different on almost all time frames. I am just posting what I can see using some indicators and my own personal opinion.
The next 2 months are going to be crazy price ction IMO and probably won't settle down until mid June or further ahead.
As I post his, BTC has gained 2.5% in the past 6hrs, but I can't help but think there is heavy manipulation in the market right now although I may just be doubtful of the pump. I still think we are in for a pullback, maybe not as far as before but most certainly we cannot keep going up in this manor IMO.
Just my thought for this morning, maybe it helps, maybe it doesn't. My charts are for my own comparison and to refer back to in the future. I would not urge anyone to take anything I say as advice, I am simply speculating on a speculative market that changes each and every day.
Thank you for taking the time to look at the chart and any opinions are always valued as I like to see things from others perspectives to compare to my own.