Bitcoin (BTCUSD) hit yesterday (and closed above it) the 1D MA50 (blue trend-line0 for the first time since March 13. At the same time it almost touched the 0.618 Fibonacci level of the Channel Up, which has been the last level of Support before the bottom of the Channel Up.
The key here are the 1D RSI and LMACD indicators. We've placed both on the same pane and as you see they both imply that we may be in a similar spot as March 07 - 10. Whether we get a macro catalyst (it was the Credit Suisse crisis then) that will pull the price back to the bottom of the Channel Up or not, that remains to be seen.
If BTC closes a 1D candle below the 1D MA50, it is possible to see that last pull-back to the bottom of the Channel Up. If not, expect a rebound from current levels. In either case, our target is 33000.
Feel free to let us know in the comments section below!
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The key here are the 1D RSI and LMACD indicators. We've placed both on the same pane and as you see they both imply that we may be in a similar spot as March 07 - 10. Whether we get a macro catalyst (it was the Credit Suisse crisis then) that will pull the price back to the bottom of the Channel Up or not, that remains to be seen.
If BTC closes a 1D candle below the 1D MA50, it is possible to see that last pull-back to the bottom of the Channel Up. If not, expect a rebound from current levels. In either case, our target is 33000.
Feel free to let us know in the comments section below!
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.