Is BTC short term short?
There looks to be a descending triangle forming.
We could go higher, if prices past 12k then we could go on to higher highs.
1hr - Bearish
4hr - Bullish
12hr - Bearish
1 day - Bearish
1 week - Bullish topping
1 month - Bullish
Indicators:
The Stoch RSI has topped and is descending.
THE ADX/DI is looking to go bearish.
The Money Flow has topped and is moving downwards.
The Awesome Oscillator and MACD is moving down as well.
In the short term we are looking for lower lows.
Where will the bottom be? Many people are calling for low 9's and mid 8's.
For a full correction in the NVT we would need to go back to the bottom supporting trending line from the beginning of the year or the 200 week MA. This would be sub-5k.
Its nice to think we could have this correction before the halving but we need to understand where all this buying pressure has come from in order to understand what will happen in the future.
We could go higher, if prices past 12k then we could go on to higher highs.
1hr - Bearish
4hr - Bullish
12hr - Bearish
1 day - Bearish
1 week - Bullish topping
1 month - Bullish
Indicators:
The Stoch RSI has topped and is descending.
THE ADX/DI is looking to go bearish.
The Money Flow has topped and is moving downwards.
The Awesome Oscillator and MACD is moving down as well.
In the short term we are looking for lower lows.
Where will the bottom be? Many people are calling for low 9's and mid 8's.
For a full correction in the NVT we would need to go back to the bottom supporting trending line from the beginning of the year or the 200 week MA. This would be sub-5k.
Its nice to think we could have this correction before the halving but we need to understand where all this buying pressure has come from in order to understand what will happen in the future.
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