👋 Hi guys, have you had any coffee and eggplant today?
Trend analysis $BTC – April 19 (MGS-120)
Let's take a quick look at the daily and weekly candles of BTC:
• On the daily frame: $BTC has broken through the downtrend line, and the RSI shows strong bullish divergence. However, the price still needs a retest of the OB area around $74k – $76k to confirm the real buying strength.
• On the weekly frame: The candle from last week has a nice wick – indicating that buying pressure is present at a strong support area. If this week maintains above $80k, the likelihood of forming a mid-term bottom is very high.
To be more specific, currently $BTC has broken the downtrend line and is starting to signal a recovery. However, the OB area around $74k – $76k has not yet been retested, and there is a high chance that the price will have a slight drop to test the buying strength before continuing to rise.
The RSI has shown clear bullish divergence and is also above EMA9 and EMA45 – confirming that the upward momentum is returning.
Personal viewpoint:
• BTC needs a short-term correction
• The retest price area is a good opportunity to enter (of course, just a part)
• Altcoin is not yet the time to DCA, but if you have a lot of capital or haven't accumulated yet, you can start to gradually accumulate, preparing for the 2–3 month increase ahead.
🐋 Whales are dumping shorts, and the cash flow shows signs of shifting.
This is the time to maintain a strong mindset, no FOMO – being patient is the key to winning.
-MGS Trading-
Trend analysis $BTC – April 19 (MGS-120)
Let's take a quick look at the daily and weekly candles of BTC:
• On the daily frame: $BTC has broken through the downtrend line, and the RSI shows strong bullish divergence. However, the price still needs a retest of the OB area around $74k – $76k to confirm the real buying strength.
• On the weekly frame: The candle from last week has a nice wick – indicating that buying pressure is present at a strong support area. If this week maintains above $80k, the likelihood of forming a mid-term bottom is very high.
To be more specific, currently $BTC has broken the downtrend line and is starting to signal a recovery. However, the OB area around $74k – $76k has not yet been retested, and there is a high chance that the price will have a slight drop to test the buying strength before continuing to rise.
The RSI has shown clear bullish divergence and is also above EMA9 and EMA45 – confirming that the upward momentum is returning.
Personal viewpoint:
• BTC needs a short-term correction
• The retest price area is a good opportunity to enter (of course, just a part)
• Altcoin is not yet the time to DCA, but if you have a lot of capital or haven't accumulated yet, you can start to gradually accumulate, preparing for the 2–3 month increase ahead.
🐋 Whales are dumping shorts, and the cash flow shows signs of shifting.
This is the time to maintain a strong mindset, no FOMO – being patient is the key to winning.
-MGS Trading-
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
94,565.21
+1.13%