Classic Signals —RSI, MACD & Moving Averages
If you allow one minute of your time I would like to share some classic bullish signals that are now developing on the Bitcoin chart on multiple timeframes.
Let's start with the daily:
» The RSI is now at 67, the highest since December 2024. The highest since November 2024 on a rise.
Notice that the daily RSI is above 0.618 so this can work as support on a drop. This means that Bitcoin will continue growing.
» The MACD is now in the bullish zone. It looks awesome I love it.
This daily MACD chart shows that there is plenty of room for additional growth. Bitcoin will continue growing.
» You will love this one, it's been so long... The moving averages.
Bitcoin closed above SMA200 daily yesterday. It also trades above EMA55 and EMA89.
The close above SMA200 confirms that a long-term bullish bias has been confirmed. Bitcoin will continue growing.
These are classic signals.
Let's consider the weekly timeframe and see what we can find:
» Bitcoin's weekly RSI is very interesting, it is strong/bullish and moving above 0.382 Fib. It also shows plenty of room available for additional growth. It is aiming straight up.
» Bitcoin's weekly MACD never reached below zero, so it remains in the bullish zone. See here:
There is a higher low and it is already pointing full-up.
Notice the histogram... The dynamics are similar to September 2024, before a major rise.
» Finally, Bitcoin is just way too strong on the weekly timeframe and never moved below EMA55.
The other moving averages were never tested.
» Additional bullish signals:
— We have three green weekly candles and the current week is full green.
— It is only the second time in Bitcoin's history that it moves above 90K. A major development.
— Below 80K is likely gone forever.
— Once Bitcoin moves above 100,000$, there will be major bullish action across the entire market.
» Bitcoin will continue growing now, mid-term and long-term.
Thank you for reading.
Namaste.