OrriginalCrypto on Nostr: Bitcoin Pauses its surge at just under 74K after a tremendous rise from its long term ...
Bitcoin Pauses its surge at just under 74K after a tremendous rise from its long term range.
The Weekly chart, with PA in Yellow, shows us how BTC has formed 2 Cups. VERY BULLISH
But it needs to be remembered that PA will pull back at some point and will test that trendline as support and may reach around 70K again.
So long as it forms a Higher Low, we will be fine.
The 1 hour MACD has been falling Bearish, the 4 hour is turning that way and the Daily is in an area of resistance
Similar story on the RSI. The dailt is now in the Overbought Zone.
OnChain shows us people are Still holding, not selling
The Weekly chart, with PA in Yellow, shows us how BTC has formed 2 Cups. VERY BULLISH
But it needs to be remembered that PA will pull back at some point and will test that trendline as support and may reach around 70K again.
So long as it forms a Higher Low, we will be fine.
The 1 hour MACD has been falling Bearish, the 4 hour is turning that way and the Daily is in an area of resistance
Similar story on the RSI. The dailt is now in the Overbought Zone.
OnChain shows us people are Still holding, not selling