Bitcoin continues in a horizontal zone, but with bearish signals. The most notable:
- MACD Moving Average is quite far from the histogram and begins to be bearish. - The histogram already shows a couple of red marks. - Today's candle, although at this hour it appears as a morning star, its shadow is greater than the previous one. + Two positive factors, lower volume than the previous one and RSI in the intermediate zone.
In the medium term, although it is Thursday, several bearish signals are also observed:
- The candle continues to be lower than the previous one. - Less volume. - RSI in the intermediate zone but with the possibility that next week there will be a correction. - The MACD Moving Averages are shown to be far from the histogram. + Positive aspect, the movement continues within the trend diagonal.
Given all these signals, at least in the immediate term it seems that $BTC will have a correction in its valuation. We will see what happens in that case when it reaches the Bollinger Moving Average (115k); if it does not cushion it, it could be looking for its new support zone between 112k-110K.
Weekly MACD Evening Star. Most traders aren't too keen on this signal when it appears in an uptrend, but it is what it is. This week has been bullish, but it's ending with an Evening Star signal, which could mean the end of the trend. However, since this is $BTC , at best it could only mean a corrective movement if it ends up red.
On a positive note, the RSI and volume recorded up to this hour seem to suggest that this could be a correction.
MACD in green. The price is moving in the bullish zone of Bollinger. RSI in a comfortable situation.
Daily RSI
After crossing the 100 EMA (98,200), it settled at an interesting point above the 20 EMA, not far from the downward diagonal. If it remains in that area, it could exhaust the vital space, resulting in a new situation: a bullish rally or a repeat drop towards 94k.Daily EMAFor now, the weekly MACD shows a slight change in the upward direction. If it holds until the close, the option for a bullish rally becomes relevant for the coming days.
The first bullish candle is clearly observed above the bearish diagonal. The MACD moving average continues on its path to a possible crossover with the bearish line. The (bearish) histogram bars continue to decrease, approaching the center. Volume is equivalent to the previous trading session.
There is a good possibility of movement at least up to 0.4 (Bollinger Moving Average).
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Pay close attention to the purple line and what has recently happened to the price in that area. If it was above it, it often served as support, and if it was below it, it served as resistance.
Daily RSI Currently, the price of Bitcoin is below that zone (104k), under a bearish diagonal (which it could not overcome), with less volume than the previous day, and the MACD moving average is entering a bearish zone (below the histogram) with a red bar despite today being a bullish candle (daily timeframe).
I share your opinion 😁 Hold on until the right moment 👍
El Visionario Cripto
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#MyTradingStyle 🧠 My trading style in one word: survive. I'm not a whale or a dev, but I manage to surf this ocean of candles 🐙📉📈 🎯 Some follow patterns, others memes... I follow instinct mixed with a little analysis and a lot of coffee.
📉 I bought BTC at 60K with hype. 📈 I sold ETH just before the ETF. 🫣 And still... I'm here, learning, adapting, and holding on.
💪 After all: "HODL is my superpower" (The character with a superhero cape, surrounded by BTC, ETH, SOL logos)
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The movement in #wct looks interesting, as despite being on a downward trend, its MACD indicator suggests that a potential crossing of moving averages may be preparing, in addition to its bars gradually moving towards the center. Also, the Bollinger has something to say: a stabilization movement seems to be emerging.
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