Bitcoin BTC/USD Macro Analysis

Bitcoin shows bullish signals on StochRSI, MACD, and on the Wave Trend oscillator on the 3D, 4D and soon also on the 1W TF. StochRSI has a bullish crossover on the 3D TF and also the Wave Trend oscillator shows a bullish crossover. The MACD will also create a bullish crossover soon on the 3D TF. Also hidden bullish divergences can be found on the MACD histogram as well as on the RSI and MFI which indicate an oversold market / buying opportunity. Last week sentiment indicators registered “extreme fear” and also the TD-index (time-differential sentiment index) indicated a potential buying opportunity. On the big picture we can see an ascending triangle pattern which consists of an A-B-C-D-E structure (3-3-3-3-3 sub-waves) usually found in bull markets. If BTC can break though the 21 WEMA (~$51600) and close above it with a weekly candle then this would be a further bullish signal. After BTC has broken through above the 21 WEMA and has tested it successfully as support it would indicate a confirmation of a bull market continuation :-)



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I´m not a financial adviser. For educational purpose only!
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