Bitcoin weekly
Watching .618 retrace support @ 40k
bounce zone 40-44k acted as strong support, but only touch and go - no confirmation / test. Weekly downtrend indicated further consolidation needed at this level for resolution.
Current resistance 50-54k
Weekly squeeze momentum indicating additional downside / consolidation period possible next several weeks - also correlated to global markets momentum
RSI and Money flow rounding but still downward trend
Daily price action chop - watch overhead resistance and weekly confirmation of support / resistance flip at 54k for signal of trend reversal.
Short term - neutral
Long term - NUCLEAR BULLISH :D
Appreciate all support and comments!
Watching .618 retrace support @ 40k
bounce zone 40-44k acted as strong support, but only touch and go - no confirmation / test. Weekly downtrend indicated further consolidation needed at this level for resolution.
Current resistance 50-54k
Weekly squeeze momentum indicating additional downside / consolidation period possible next several weeks - also correlated to global markets momentum
RSI and Money flow rounding but still downward trend
Daily price action chop - watch overhead resistance and weekly confirmation of support / resistance flip at 54k for signal of trend reversal.
Short term - neutral
Long term - NUCLEAR BULLISH :D
Appreciate all support and comments!
Comment:
all going to plan now if 40k holds and we get our ETH re-trace holding 3k hopefully we can continue the upward trend for the remainder of 2022. good luck!
Patience is a skill.
We are not going anywhere.