Don't Be Fooled
This is a temporary bull trap. Fundamentally, the government action against crypto hasn't stopped, and the technicals are still bearish. We have:
1. Strong Down Channel
2. Pending Death Cross (Tomorrow)
3. MACD Histo Below 0
4. MACD Trends Inverted
5. On Balance Volume Trend Negative
6. On Balance Volume Below Averages
The RSI and CCI are not compelling enough to shift the above price trends.
A daily close above 36K on BTC might negate some, but not all, of these signals. Look to a big volume move first.
1. Strong Down Channel
2. Pending Death Cross (Tomorrow)
3. MACD Histo Below 0
4. MACD Trends Inverted
5. On Balance Volume Trend Negative
6. On Balance Volume Below Averages
The RSI and CCI are not compelling enough to shift the above price trends.
A daily close above 36K on BTC might negate some, but not all, of these signals. Look to a big volume move first.
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