Bitcoin Weekly update
Bitcoin weekly looking uncertain
We have had a DOJI and now a White Spinning Top candle weekly closes, both show indecision, and thew week is currently in RED but PA is trying to push back up
30K just above is going to need strong PA and we are currently overbought on Daily timeframe thogh Lower are OK-ish
Weekly in Good shape but a strong push now could lead to weakness after we break through.
For me, the ideal situation is that we pull back for a week to around 24K. this could reset the MACD's etc and give PA a bit more Room to pmove back up and break tha 30K Wall and more importantly, HOLD it after
As you can see in this chart, PA is in the Mid Way point of the rising channel and the real test is when PA reaches the upper trendline. For now, PA sitting on the 1.618 Fib line, catching its breath
But this is BITCOIN, 24/7 trading and anything can happen.
Fundimentals are increasing as the Banking industry realises that Crypto has NOT died and that it is still a force. Banks in the UK have turned against the Government and imposed strong Walls against Users depositing THEIR OWN MONEY in Crpyto, despite the Governments wish to become a Crypto Hub.
The TradFi / Crypto War is hotttng up
We have had a DOJI and now a White Spinning Top candle weekly closes, both show indecision, and thew week is currently in RED but PA is trying to push back up
30K just above is going to need strong PA and we are currently overbought on Daily timeframe thogh Lower are OK-ish
Weekly in Good shape but a strong push now could lead to weakness after we break through.
For me, the ideal situation is that we pull back for a week to around 24K. this could reset the MACD's etc and give PA a bit more Room to pmove back up and break tha 30K Wall and more importantly, HOLD it after
As you can see in this chart, PA is in the Mid Way point of the rising channel and the real test is when PA reaches the upper trendline. For now, PA sitting on the 1.618 Fib line, catching its breath
But this is BITCOIN, 24/7 trading and anything can happen.
Fundimentals are increasing as the Banking industry realises that Crypto has NOT died and that it is still a force. Banks in the UK have turned against the Government and imposed strong Walls against Users depositing THEIR OWN MONEY in Crpyto, despite the Governments wish to become a Crypto Hub.
The TradFi / Crypto War is hotttng up
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