We are entering the month of APRIL with all the bullish sentiments in the market and Bitcoin has just closed six consecutive monthly green candles for the first time since April 2013. As of now, we are witnessing the formation of RISING WEDGE in Daily TF and in smaller TF we are moving in a BULLISH ASCENDING CHANNEL. Now, according to my analysis the price action can play out 3 different scenarios (in the direction of the arrows). Let's see how it goes.
Cheers for the post. The big "have you seen this?" thing I would say is the MACD momentum waves and the RSI have been trending lower and lower and lower at each peak after January. The strength of BTC is bleeding all over the floor since January. Its been making higher prices whilst the RSI has been trending down.
This could MAYBE be a reset for a big April pump but if that doesn't occur in the first 1-2 days of April then I'd say you're going to be looking at a sizeable correction.
Wolf_Of_Alt_Street
⋅
@Angelus512, Yes, I concur. It probably means BTC is half-way through the pricing of the next HH but we still have to be careful. Also, we have to be cautious as the CME gap which didn't get filled will sooner or later do.