BTC - What Now?
Dear Traders,
I've posted some other TA about BTC before (which I will link under this Idea) showing a potential reversal point, and BTC indeed reversed very close to my entry. On this daily chart we see that a Bullish Divergence got formed (Price makes a lower low, but RSI makes higher highs), and it got confirmed by more buying volume from the bulls. This looks like a pretty good formation for a potential reversal back to the 5k area.
After that huge Dip, I'm pretty sure we could see such a reversal happening. People don't want to miss out on a ''possible bottom'' trust me.
I see this happening already on the chart, if we look at my Accumulation & Distribution indicator we see higher high forming, with a bullish trend. Might this be the bottom? I'm still skeptical. I want to see some ingredients on the chart before entering this rollercoaster again, so what will I be looking for?
I'd like to see the bulls push this above the resistance line I drew, that would possibly mean that yes, we some good support at this area and people might FOMO in to not miss the bottom.
What are your thoughts?
Feel free to share your opinion in a comment, and if you like my Technical Analysis's, don't hesitate to follow me!
I've posted some other TA about BTC before (which I will link under this Idea) showing a potential reversal point, and BTC indeed reversed very close to my entry. On this daily chart we see that a Bullish Divergence got formed (Price makes a lower low, but RSI makes higher highs), and it got confirmed by more buying volume from the bulls. This looks like a pretty good formation for a potential reversal back to the 5k area.
After that huge Dip, I'm pretty sure we could see such a reversal happening. People don't want to miss out on a ''possible bottom'' trust me.
I see this happening already on the chart, if we look at my Accumulation & Distribution indicator we see higher high forming, with a bullish trend. Might this be the bottom? I'm still skeptical. I want to see some ingredients on the chart before entering this rollercoaster again, so what will I be looking for?
I'd like to see the bulls push this above the resistance line I drew, that would possibly mean that yes, we some good support at this area and people might FOMO in to not miss the bottom.
What are your thoughts?
Feel free to share your opinion in a comment, and if you like my Technical Analysis's, don't hesitate to follow me!
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