Every second you think about what's next for #Bitcoin, you can spend with your family.
Let us do it for you, a complete analysis of $BTC price action🧵👇
Let us do it for you, a complete analysis of $BTC price action🧵👇
The middaily chart has come back on a bullish track as #Bitcoin is now consolidating near the $25k area of resistance. The HTF Trailer from BirbicatorPRO is tracking reliable trend breakouts, has signaled an upward trend break. The HTF Stop level is now defined at $23538.
It seems that $BTC is willing to climb higher. As long as the candlesticks continue to close above $23500, the bulls are in charge with better odds of continuing higher.
Levels of interest: $23935, $21547, $20163, $18896, $16542
Levels of interest: $23935, $21547, $20163, $18896, $16542
The BPRO Momentum Bands reveal that $BTC is now trading at the High Band, reflecting the volatility range highs. The expected range of average volatility is 22.7-25.3k USD.
As long as there is no persistent breakout outside either of the Bands, Bitcoin will likely bounce between the floor and the ceiling areas defined by the above range.
A decisive break outside 25300 USD could potentially set a technical objective in the 28-30k USD area.
A decisive break outside 25300 USD could potentially set a technical objective in the 28-30k USD area.
The current market sentiment is rated as "Greed" following the recent upward breakout of Bitcoin.
At 60 points on the scale, the sentiment is not in its extremes. Hence, it is not "overbought" based on the sentiment data. As a result, it has more room for continued growth.
At 60 points on the scale, the sentiment is not in its extremes. Hence, it is not "overbought" based on the sentiment data. As a result, it has more room for continued growth.
Trading counter trends after explosive breakouts rarely ever pays off. Whenever trends appear, they tend to persist in the direction of the breakout and the momentum principle will encourage better odds of trading with the trend.
At 0.19, the NUPL ratio shows a continued improvement in the average market profitability suggesting that percentage of traders in profit is increasing. It is a positive sign, overall, empowering the price trend to continue moving in the direction of the breakout.
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