Bitcoin Bullish? ... Patience is Key!

25 בפבר׳ 2022

Here we have Bitcoin on the daily timeframe and we have multiple signals to read for you...

The first thing to keep in mind is that BTCUSD (D) still remains trading below EMA10, which tells us that the bulls are not in control nor favored by the markets short-term bias.

Moving and closing above EMA10 ($39136) daily is the first signal to look for.

We also have the MACD below zero and the RSI below 50... Meaning not yet bullish but some early signals are showing up.


Bitcoin Early Bullish Signals

With that out of the way, let's look at what we have today.

We have a higher low 24-Feb. vs 24-Jan.
These candles are marked light purple.

We also have high volume on yesterday's candle, just as it happened back in late January.

What does this all mean?

Nothing at all...

With war breaking out and everything bearish on the major timeframes... The smaller timeframes can't be trusted at all.

My suggestion!

Wait it out.
Sit it out.
Step back.
Let this thing run its course.

If you have the ability to make money today, you will be able to make money any day or next month.

We don't know exactly how this whole war thing will develop, but we know for sure that the uncertainty is really strong.

I will be waiting until next week in the least before taking any calls.

What about you?

Share in the comments below!

Namaste.