BTC stands at a critical crossroads, sparking both motivation an
Hello friends, as you know, we've been experiencing some great rallies in the past few days. Everyone is happy, everyone is pleased with the uptrend. So, what's next? Many people are divided on the topic of BTC. Some say we're heading downhill, and blood will be shed, while others claim we're going to wake up to green mornings because the bulls have arrived. Firstly, please don't blindly believe anyone who tells you to buy or sell because your money belongs to you, and it might not be wise to act based on what others say. Remember, there are cunning foxes in every market. Now, you might be asking, "Tony, why are you telling us this? Stop with the unnecessary topics and talk to us about the market."
Well, that's exactly why I warned you. Right now, we see a few lines and a purple box on the chart. What do these mean?
Our purple box has a quite wide range (a gap of 20%), and if you look closely, we've never been able to break through this box in one go. It's likely that we might see a slight correction from around here. Of course, this is not the only factor. Now, I want you to focus on the yellow line. That yellow line is our dividing line between the bull and bear markets (and it looks quite resilient). It would be great if we see some closures above it; the greens will increase. However, it seems more likely that we'll get some reactions from here and gather strength from the lows.
Lastly, I believe we lack sufficient strength in terms of volume and RSI. Despite the ETFs injecting such a large amount of money into the market, the volumes in the past few months (on average) haven't seen much difference. When compared to the previous bull run, the low volume is still evident. Additionally, there has been an increase in divergence formations when looking at RSI across different time frames. It's impossible to say definitively whether it will fall or rise because finance doesn't provide certainties. I must reiterate what I said at the beginning. We're navigating through critical areas, so please trust only yourself. Everything in this post is for warning purposes only and should never be considered as investment advice.
Well, that's exactly why I warned you. Right now, we see a few lines and a purple box on the chart. What do these mean?
Our purple box has a quite wide range (a gap of 20%), and if you look closely, we've never been able to break through this box in one go. It's likely that we might see a slight correction from around here. Of course, this is not the only factor. Now, I want you to focus on the yellow line. That yellow line is our dividing line between the bull and bear markets (and it looks quite resilient). It would be great if we see some closures above it; the greens will increase. However, it seems more likely that we'll get some reactions from here and gather strength from the lows.
Lastly, I believe we lack sufficient strength in terms of volume and RSI. Despite the ETFs injecting such a large amount of money into the market, the volumes in the past few months (on average) haven't seen much difference. When compared to the previous bull run, the low volume is still evident. Additionally, there has been an increase in divergence formations when looking at RSI across different time frames. It's impossible to say definitively whether it will fall or rise because finance doesn't provide certainties. I must reiterate what I said at the beginning. We're navigating through critical areas, so please trust only yourself. Everything in this post is for warning purposes only and should never be considered as investment advice.