Appears to be a pretty solid bull flag on BTCUSD. However, the formation does not confirm which way it goes.
MACD is pointing towards a Bullish reversal, but its still bearish
SRSI is indicates BTCUSD is oversold, which is bearish
It is being supported by the moving averages, but I would short if it goes push down the 200 day
not present on the chart since because of the indicator cap, bollinger bands are tight, indicating a quick movement is in session.
Fundamentally, I do not think any piece of news will have an impact, since the market has stopped reacting to ETF announcements, and has overall ignored all good news(bear market)
I actually think that the ETHUSD pair is leading the market more than the Bitcoin because of how stagnate bitcoin has been, but this could just be cognitive bias.
My actions:
If bitcoin breaks 3850, I would call that the end of the bear market, and the beginning of consolidation, and the bull market.
If Long, I'll buy at 3550, with a stop loss at 3500, and a target of 3800
If Short, I'll sell at 3600, with stop loss at 3650, and a target of 3300
MACD is pointing towards a Bullish reversal, but its still bearish
SRSI is indicates BTCUSD is oversold, which is bearish
It is being supported by the moving averages, but I would short if it goes push down the 200 day
not present on the chart since because of the indicator cap, bollinger bands are tight, indicating a quick movement is in session.
Fundamentally, I do not think any piece of news will have an impact, since the market has stopped reacting to ETF announcements, and has overall ignored all good news(bear market)
I actually think that the ETHUSD pair is leading the market more than the Bitcoin because of how stagnate bitcoin has been, but this could just be cognitive bias.
My actions:
If bitcoin breaks 3850, I would call that the end of the bear market, and the beginning of consolidation, and the bull market.
If Long, I'll buy at 3550, with a stop loss at 3500, and a target of 3800
If Short, I'll sell at 3600, with stop loss at 3650, and a target of 3300