Bitcoin Weekly overview
On this weekly chart, we can clearly see how PA possibly going to come down and test that diagonal line that was resistance, as support., if it falls through the short term line ( Dashed) of support.
Should that solid line, that comers off the ATH, fail as support, then a chance of revisiting the 2017 ATH line ( Blue) is a very real possibility and would be a SUPERB buying oppertunity at around 16K. I have a order there, just in case ;-)
What is interesting to note here on the Weekly is the lower indicator. The OBV, made of EMA's Notice how when the 5 peaks up, there is a red candle after. Something to watch in the future.
The short term Move in Bitcoin are uncertain right now, my view has always been that we may see another Dip before we really get going again, I am just not to sure it was meant to be now. Fundimentals and TradFi are not our friend right now, However, Long term, I astill VERY BULLISH
Trade safe and take care if you use excessive Leverage
Should that solid line, that comers off the ATH, fail as support, then a chance of revisiting the 2017 ATH line ( Blue) is a very real possibility and would be a SUPERB buying oppertunity at around 16K. I have a order there, just in case ;-)
What is interesting to note here on the Weekly is the lower indicator. The OBV, made of EMA's Notice how when the 5 peaks up, there is a red candle after. Something to watch in the future.
The short term Move in Bitcoin are uncertain right now, my view has always been that we may see another Dip before we really get going again, I am just not to sure it was meant to be now. Fundimentals and TradFi are not our friend right now, However, Long term, I astill VERY BULLISH
Trade safe and take care if you use excessive Leverage
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