BTC remains in a massive consolidation pattern due to the ETF pump, which overheated the market on the 1W timeframe. The MACD has reset, and we are currently in a downtrend.However, the chart indicates that we may have reached the bottom at 48k, and we’re starting to see higher lows. The MACD also shows the potential for a cross at 0, which could signal a reversal within 2 to 4 weeks.
A new rising pattern is emerging, which could be the foundation for an uptrend reversal. If the MACD fails to cross at 0, consolidation may continue for another month or two, causing further pain for altcoins.
That said, we also observe a bullish divergence forming, which is another positive signal. Additionally, USDT dominance is at resistance and could be rejected.
In summary:
- Possible MACD 1W cross and reversal
- Emergence of a rising channel pattern
- USDT dominance at resistance
- RSI in oversold territory
These signs suggest that the market has cooled down and may be ready to resume its upward progress.
Note
Another pretty accurate idea. Let's hope that BTC pump to $60k to confirm the trend reversal! $5k is a resistance! Go go go!Note
Still accurate. now let see if we get rejected at 60k and go down to 52k/48k or if we break out and reach 66k?Note
Another very accurate idea. Follow me to get updates and show some encouragement!We are heading to $65-66k. Then a pullback is possible. $62k is a hard resistance, we also can be rejected here. However the occilators and indicators are in the green, showing
BTC might continue its pump higher.
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Telegram: t.me/metaisland_gg
Twitter X: x.com/cryptonikkoid
Web: nikkoid.com
I do not answer to private messages. Use the comment section of the idea or script, or use Telegram.
Twitter X: x.com/cryptonikkoid
Web: nikkoid.com
I do not answer to private messages. Use the comment section of the idea or script, or use Telegram.
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.