Bitcoin resistance at 200-week price average.
Bitcoin has been hitting resistance at 200-week price average(
25K) for the past few weeks as the lower indicators test thin lines between remaining bearish or breaking bullish. PPO has both lines below the 0 level which indicate overall bearish price momentum, while the TDI shows the RSI line creating a potential double-top at the 60 level. In general, the RSI will trend between 20-60 during a bear market, and 40-80 during a bull market. I personally would like to see Bitcoin turn around here and head lower for a longer bear market of at least a year. My current average is below 20k and I would like to add more below 20k.
Short-term neutral, medium-term bearish, long-term bullish. FTX drama likely gave us a bottom near 15k, but it would be nice to see a re-test to confirm that 15k is the actual bottom.
25K) for the past few weeks as the lower indicators test thin lines between remaining bearish or breaking bullish. PPO has both lines below the 0 level which indicate overall bearish price momentum, while the TDI shows the RSI line creating a potential double-top at the 60 level. In general, the RSI will trend between 20-60 during a bear market, and 40-80 during a bull market. I personally would like to see Bitcoin turn around here and head lower for a longer bear market of at least a year. My current average is below 20k and I would like to add more below 20k. Short-term neutral, medium-term bearish, long-term bullish. FTX drama likely gave us a bottom near 15k, but it would be nice to see a re-test to confirm that 15k is the actual bottom.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.