Hi there,
Here is my analysis on the current bitcoin situation:
The 21week moving average has proven to be a good indicator for finding the bottom in previous bull runs. I think this time will be no exception and we are probably heading for it. The 21week moving average currently lies around 43-44k.
Next to that there is a also rising wedge pattern playing out. The target of this rising wedge can be calculated by measuring the height of the wedge: The 42/44k range.
Finally, by looking at the RSi we can see that its starting to hit the oversold condition, this can also signal that a reversal is near.
Thanks for reading, and if you like this analysis you can give it a thumbs up. Thank you :)
Greetings.
Here is my analysis on the current bitcoin situation:
The 21week moving average has proven to be a good indicator for finding the bottom in previous bull runs. I think this time will be no exception and we are probably heading for it. The 21week moving average currently lies around 43-44k.
Next to that there is a also rising wedge pattern playing out. The target of this rising wedge can be calculated by measuring the height of the wedge: The 42/44k range.
Finally, by looking at the RSi we can see that its starting to hit the oversold condition, this can also signal that a reversal is near.
Thanks for reading, and if you like this analysis you can give it a thumbs up. Thank you :)
Greetings.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.