200MA on the 3day held perfectly. Testing 45k again 🐱🏍
The 3day chart shows a strong sign of recovery and can be taken as a future outlook of the weekly.
Bullish stuff:
The 200MA of the 3day was held perfectly. No close below it!
We now are within the bull market support band and did not get rejected so far.
The RSI shows a strong healthy rise.
Trading volume is higher compared to the start of 2022.
We are still above the macro support level of 30k.
Bearish stuff:
We did not create higher highs yet and are in a consolidation phase during a down trend.
Technically we are still not above the bull market support band consisting of the 20 week SMA and 21 week EMA.
We believe that the people that hold through these hard times will get rewarded.
What is needed is patience and endurance .
Bitcoin got additional attention during the Russian invasion in Ukraine.
People could use Bitcoin but have trouble withdrawing their fiat currency.
Donations are also made using cryptos which leads to additional attention.
Ukraine legalized cryptos because of that.
The FED started with rate hikes and takes a closer look to cryptos.
This is a novum and it seems that Bitcoin became to big to ban or ignore.
We expect bullish times ahead can't wait for it.
Feel free to comment or ask anything you like.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
Ctumblery
Bullish stuff:
The 200MA of the 3day was held perfectly. No close below it!
We now are within the bull market support band and did not get rejected so far.
The RSI shows a strong healthy rise.
Trading volume is higher compared to the start of 2022.
We are still above the macro support level of 30k.
Bearish stuff:
We did not create higher highs yet and are in a consolidation phase during a down trend.
Technically we are still not above the bull market support band consisting of the 20 week SMA and 21 week EMA.
We believe that the people that hold through these hard times will get rewarded.
What is needed is patience and endurance .
Bitcoin got additional attention during the Russian invasion in Ukraine.
People could use Bitcoin but have trouble withdrawing their fiat currency.
Donations are also made using cryptos which leads to additional attention.
Ukraine legalized cryptos because of that.
The FED started with rate hikes and takes a closer look to cryptos.
This is a novum and it seems that Bitcoin became to big to ban or ignore.
We expect bullish times ahead can't wait for it.
Feel free to comment or ask anything you like.
Always do your own research and keep in mind that my charts and comments cannot be considered financial advice.
Cheers
Ctumblery
