Bitcoin Weekly closed with DOJI
After a week of battles, Bitcoin closed with a RED DOJI, showing short term uncertainty in the favour of the BEARS
To many extents, this was to be expected as PA is overbought, RSI on a weekly is up high for instance..But the Weekly MACD has only just crossed 0 and the signal is on it, so BTC PA has plenty of room to continue upwards once it has caught ts breath
The first challenge is to break the 30K mark, then the upper trendline of long term channel around 35K. Neither of these Will be an easy task and I don't really see this happening untill next year.
Once that upper trendline is broken through, we can expect an easy walk to 40K
Over all, Outlook for BTC is favourable but I have a feeling this Summer maybe tough
Trade safe and have plans for both Bulls and Bears
To many extents, this was to be expected as PA is overbought, RSI on a weekly is up high for instance..But the Weekly MACD has only just crossed 0 and the signal is on it, so BTC PA has plenty of room to continue upwards once it has caught ts breath
The first challenge is to break the 30K mark, then the upper trendline of long term channel around 35K. Neither of these Will be an easy task and I don't really see this happening untill next year.
Once that upper trendline is broken through, we can expect an easy walk to 40K
Over all, Outlook for BTC is favourable but I have a feeling this Summer maybe tough
Trade safe and have plans for both Bulls and Bears
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