Bitcoin Daily
At time of writing, we have 1 day and 18 hours till the Halving.
And what will happen then ?
On any ordinary day, I would say we are in the perfect position to move off the bottom of the range we have been in since late Febuary, even though we have only retraced -17%..
In that Time, #BTC PA reached oversold twice and maybe about to do it again on the 4 hour charts. It never reached that on the Daily chart even though it was overbought twice in the same time period.
As you can see, we now have the MACD, Signal and RSI below the Zero line and Volume input low.
This is SO READY TO PUSH HIGHER but Will it ?
PA has been dropping down the fib circle, as it did before and does seem to be finding Support at Range Low.
BUT, the DMI ( image ) tells us something else.
The ADX shows Range strength, DI - and DI + show Range direction
The ADX ( yellow) is rising while we are in a Bearish position and this is backed up by the DI - ( red) still being Higher than the DI + which seems to be ranging Low and not taking any ground above itself.
A positive take on this is that DI- is NOT rising, DI + is low and able to Rise.
In summery, #Bitcoin is waiting for its moment.
There is no weakness here. It is like a coiled Spring, ready to go when the time is right but we do still have the possibility of a further drop, maybe a Flash dip that would be bought up so quick it may surprise you
Be ready but we could stay here for a few more weeks.
Ot move on Saturday ---->
At time of writing, we have 1 day and 18 hours till the Halving.
And what will happen then ?
On any ordinary day, I would say we are in the perfect position to move off the bottom of the range we have been in since late Febuary, even though we have only retraced -17%..
In that Time, #BTC PA reached oversold twice and maybe about to do it again on the 4 hour charts. It never reached that on the Daily chart even though it was overbought twice in the same time period.
As you can see, we now have the MACD, Signal and RSI below the Zero line and Volume input low.
This is SO READY TO PUSH HIGHER but Will it ?
PA has been dropping down the fib circle, as it did before and does seem to be finding Support at Range Low.
BUT, the DMI ( image ) tells us something else.
The ADX ( yellow) is rising while we are in a Bearish position and this is backed up by the DI - ( red) still being Higher than the DI + which seems to be ranging Low and not taking any ground above itself.
A positive take on this is that DI- is NOT rising, DI + is low and able to Rise.
In summery, #Bitcoin is waiting for its moment.
There is no weakness here. It is like a coiled Spring, ready to go when the time is right but we do still have the possibility of a further drop, maybe a Flash dip that would be bought up so quick it may surprise you
Be ready but we could stay here for a few more weeks.
Ot move on Saturday ---->