BitcoinLong
Support is at 53k but MACD Divergence has Bulls Eyeing 62K Early
In the Bulls Favor:
• Bullish divergence in volume
• Possible Double bottom being printed
• H4 Buy signal appearing on SSL Entry/Exit Indicator
In the Bears Favor:
• Resistance at top of downward channel has not been broken and confirmed
• 51,000-53,000 Supply zone has not yet been retested on the weekly timeframe
• Recovery and Supply Chain delays may prove inflation to be temporary causing a slight correction as some capital flows out of crypto and back into other markets
• S&P500 broke Dynamic support on daily yesterday and could be heading into a red week.
• Bullish divergence in volume
• Possible Double bottom being printed
• H4 Buy signal appearing on SSL Entry/Exit Indicator
In the Bears Favor:
• Resistance at top of downward channel has not been broken and confirmed
• 51,000-53,000 Supply zone has not yet been retested on the weekly timeframe
• Recovery and Supply Chain delays may prove inflation to be temporary causing a slight correction as some capital flows out of crypto and back into other markets
• S&P500 broke Dynamic support on daily yesterday and could be heading into a red week.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.