BTC/USD CAUTION
Hello fellow traders,
just wanted to share while the momentum has shifted prices higher for some time now.
The RSI however is showing that the positive price action is running out of steam. In my opinion, I suspect a pullback to 20K (roughly) to confirm as support.
Weekly charts more or less convince us the Bull cycle has started (weekly macd cross, monthly stochostic cross) This is just stating nothing parabolic will likely happen anytime soon, but if anything a healthy stage for the market to prepare for the next bull cycle.
just wanted to share while the momentum has shifted prices higher for some time now.
The RSI however is showing that the positive price action is running out of steam. In my opinion, I suspect a pullback to 20K (roughly) to confirm as support.
Weekly charts more or less convince us the Bull cycle has started (weekly macd cross, monthly stochostic cross) This is just stating nothing parabolic will likely happen anytime soon, but if anything a healthy stage for the market to prepare for the next bull cycle.
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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.