• General outlook of long-term for BTC is still bullish as price is making a higher low since 2019-2020.
• Mid-term wise, we can say price is still in sideways as it rebounded off exact previous support/low at 18-25th of Jan 2021. Price needs to break previous high to confirm breakout from its previous low-to-high trading range hence confirming the trend changing by making higher lows and highs but note that the trading range for its current mid-term trend is quite huge around usd 30k difference.
• General outlook of short-term is bullish. We can see price made a strong move since the upper resistance trendline of oscillator was broken up at July 21st and coincides with that, price rebounded off its significant support of previous mid-term low usd28,850. The bullish move of minor-term was then confirmed by the crossover of 5/20-sma and the price has rebounded off 20-sma since then everytime it made a retracement and keeps making higher lows and higher highs, showing a good momentum to go higher everytime it breaks previous resistances be it the horizontal ones, fibonacci ones or the dynamic ones.
• Currently I'm waiting for the breakout of its oscillator's declining upper resistance trendline in minor-term view. Price has made a breakout of last week's high, but to ensure it will not return back down, oscillator needs to breakout and show some strengths because if it does not breakout, short-term bearish divergence is still intact as price is making higher highs but instead oscillator is making lower highs.
Disclaimer: This is just me being palatao, not a financial advise nor a buy/sell/hold call.
• Mid-term wise, we can say price is still in sideways as it rebounded off exact previous support/low at 18-25th of Jan 2021. Price needs to break previous high to confirm breakout from its previous low-to-high trading range hence confirming the trend changing by making higher lows and highs but note that the trading range for its current mid-term trend is quite huge around usd 30k difference.
• General outlook of short-term is bullish. We can see price made a strong move since the upper resistance trendline of oscillator was broken up at July 21st and coincides with that, price rebounded off its significant support of previous mid-term low usd28,850. The bullish move of minor-term was then confirmed by the crossover of 5/20-sma and the price has rebounded off 20-sma since then everytime it made a retracement and keeps making higher lows and higher highs, showing a good momentum to go higher everytime it breaks previous resistances be it the horizontal ones, fibonacci ones or the dynamic ones.
• Currently I'm waiting for the breakout of its oscillator's declining upper resistance trendline in minor-term view. Price has made a breakout of last week's high, but to ensure it will not return back down, oscillator needs to breakout and show some strengths because if it does not breakout, short-term bearish divergence is still intact as price is making higher highs but instead oscillator is making lower highs.
Disclaimer: This is just me being palatao, not a financial advise nor a buy/sell/hold call.