There are so many people coming out with so many idaes about why Bitcoin should reach for New ATH's in March and, to some degree, it is possible though I am not to sure it would be a good idea now. Something will happen in March though, I am sure ogf that, just not to sure what.
For me, I like to keep things fairly simple. It has worked for me for many years.
So, Lets be simple about this and Look at some basic things
First of All, The Dreaded Hack yesterday that took the market into shock - Many ALTS Bled and are Still in shock.
Bitcoin took it in its stride and fell by -4.7% - It was Less than many a normal days pull back ! And today, we are Green. This shows MASSIVE under laying strength. The Support Structure of Bitcoin is Huge.
So, the the chart.
Reasons for a Push higher.
The Strength PA has, as just mentioned, is an obvious example of a simple reason to expect a push higher.The Daily MACD is Way down low, pretty well oversold and just ranging there, waiting....
But one thing I want to point out is the trend line that PA is running up. This is the trend line, with origins back 2017, that catapulted PA to the final 2021 ATH. It is strong support, that eventualy broke as the bear market cracked its whip, in 2022. But not before it support PA on two more occasions.
So, Can it do it again ?
PA does not need to react till we begin getting close to that Apex of the triangle we are now in, Which is in JUNE, But with the daily MACD Low and MACRO acceptance of Bitcoin and Trumps push to welcome Crypto, things may advance Quicker. PA certainly has the ability to move higher in the near future
The down side of that is simply, PA would run out of "steam"
Which brings me to why we may not see a push till JUNE and even then, that may just be the initial stage of the final push to cycle ATH. ( which I have said many times previously, is likely to be in Q4, maybe Early Q4 )
Look at this WEEKLY MACD chart
https://www.tradingview.com/x/gtGwIp0q/
See where that projected line comes down to the Neutral zone...The date of intersection..JUNE
The last time weekly MACD was up here, as you can see, It fell in a very controlled manner and the angle of descent is the same as this projected line.
That happened while BTC PA Ranged across for 6 months
So, there it is, Nice and simple.
JUNE is the best time, or just before, for PA t make a move but it may try some Dances in the time till then
It can continue Ranging across in the Price range of 109K to 91K till then, Still making people money and keeping the world happy.
We can dive Deeper into all kinds of data, onchain etc, get all techie and confound people with new words...but end of the day, Bitcoin will still do the same thing as it always does.
MACD trading is a Latent method, as MACD shows you data after the event.....but it shows Trends.VERY WELL
My money is on the trend Range we are currently in, ending in around End of May to June.
This will lead to a series of New ATH's over 109K, all the way up to Cycle ATH in Q4
What happens than, That is going to be interesting to see.......but thats another story
Stay safe
For me, I like to keep things fairly simple. It has worked for me for many years.
So, Lets be simple about this and Look at some basic things
First of All, The Dreaded Hack yesterday that took the market into shock - Many ALTS Bled and are Still in shock.
Bitcoin took it in its stride and fell by -4.7% - It was Less than many a normal days pull back ! And today, we are Green. This shows MASSIVE under laying strength. The Support Structure of Bitcoin is Huge.
So, the the chart.
Reasons for a Push higher.
The Strength PA has, as just mentioned, is an obvious example of a simple reason to expect a push higher.The Daily MACD is Way down low, pretty well oversold and just ranging there, waiting....
But one thing I want to point out is the trend line that PA is running up. This is the trend line, with origins back 2017, that catapulted PA to the final 2021 ATH. It is strong support, that eventualy broke as the bear market cracked its whip, in 2022. But not before it support PA on two more occasions.
So, Can it do it again ?
PA does not need to react till we begin getting close to that Apex of the triangle we are now in, Which is in JUNE, But with the daily MACD Low and MACRO acceptance of Bitcoin and Trumps push to welcome Crypto, things may advance Quicker. PA certainly has the ability to move higher in the near future
The down side of that is simply, PA would run out of "steam"
Which brings me to why we may not see a push till JUNE and even then, that may just be the initial stage of the final push to cycle ATH. ( which I have said many times previously, is likely to be in Q4, maybe Early Q4 )
Look at this WEEKLY MACD chart
https://www.tradingview.com/x/gtGwIp0q/
See where that projected line comes down to the Neutral zone...The date of intersection..JUNE
The last time weekly MACD was up here, as you can see, It fell in a very controlled manner and the angle of descent is the same as this projected line.
That happened while BTC PA Ranged across for 6 months
So, there it is, Nice and simple.
JUNE is the best time, or just before, for PA t make a move but it may try some Dances in the time till then
It can continue Ranging across in the Price range of 109K to 91K till then, Still making people money and keeping the world happy.
We can dive Deeper into all kinds of data, onchain etc, get all techie and confound people with new words...but end of the day, Bitcoin will still do the same thing as it always does.
MACD trading is a Latent method, as MACD shows you data after the event.....but it shows Trends.VERY WELL
My money is on the trend Range we are currently in, ending in around End of May to June.
This will lead to a series of New ATH's over 109K, all the way up to Cycle ATH in Q4
What happens than, That is going to be interesting to see.......but thats another story
Stay safe
Nothing to be taken as Financial advice.
I will always say
"Only invest what you can afford to loose. When you are ready, take out your original investment. This way, it is only your profit that is at risk"
THAT is Financial advice
I will always say
"Only invest what you can afford to loose. When you are ready, take out your original investment. This way, it is only your profit that is at risk"
THAT is Financial advice
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.
Nothing to be taken as Financial advice.
I will always say
"Only invest what you can afford to loose. When you are ready, take out your original investment. This way, it is only your profit that is at risk"
THAT is Financial advice
I will always say
"Only invest what you can afford to loose. When you are ready, take out your original investment. This way, it is only your profit that is at risk"
THAT is Financial advice
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.