Bitcoin for the next 8 weeks - Maybe
I have been using the Heiken Ashi chart with some success over the last 18 Months and so I am looking to it for ideas about where we may be heading with Bitcoin PA
The chart simply uses the Heiken Ashi candles ( yjay iron out the Noise of standard candles and give Hints of Trend changes on all time frames ), 2 Fib Spped resistance Fance and the obvious Bollinger Bands.
The Bold yellow line is the line we keep getting rejected from since March and you can see how PA has used varous Fib extensions and Fans line to act as support.
And we are about to start gettign squeezed between these.
https://www.tradingview.com/x/WeNIeN6r/
The Zoomed in chart shows this clearly. It also shows that we are getting squeezed right now between a weaker Fib fan line and the line of resistance. This is likely to cause PA top drop in my opinion.
The Fib Fan line that is arrowed is strong support and has the VRVP POC line on it also..I will say, that if PA drops to this level, it will find support around 64900 usdt
The REAL Volatility may well start around beginning July, Green Box area, and until PA break out, either Above of Below, that Volitility will remain.
Should Pa break out above, the next major line of resistance is that 2.272 Fib extension around 79K
It is worth noting that on a Daily chart, RSI has plenty of room to move higher. though MACD is leveling out and Histogram is falling.
I do not think Bitcoin is ready just yet.....a few more weeks to go
But I could be wrong.....it is foolish to think we can predict PA but we can have ideas
The chart simply uses the Heiken Ashi candles ( yjay iron out the Noise of standard candles and give Hints of Trend changes on all time frames ), 2 Fib Spped resistance Fance and the obvious Bollinger Bands.
The Bold yellow line is the line we keep getting rejected from since March and you can see how PA has used varous Fib extensions and Fans line to act as support.
And we are about to start gettign squeezed between these.
https://www.tradingview.com/x/WeNIeN6r/
The Zoomed in chart shows this clearly. It also shows that we are getting squeezed right now between a weaker Fib fan line and the line of resistance. This is likely to cause PA top drop in my opinion.
The Fib Fan line that is arrowed is strong support and has the VRVP POC line on it also..I will say, that if PA drops to this level, it will find support around 64900 usdt
The REAL Volatility may well start around beginning July, Green Box area, and until PA break out, either Above of Below, that Volitility will remain.
Should Pa break out above, the next major line of resistance is that 2.272 Fib extension around 79K
It is worth noting that on a Daily chart, RSI has plenty of room to move higher. though MACD is leveling out and Histogram is falling.
I do not think Bitcoin is ready just yet.....a few more weeks to go
But I could be wrong.....it is foolish to think we can predict PA but we can have ideas
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