Bitcoin (BTCUSD) is currently around its 1D MA50 (blue trend-line), trading within a Rising Wedge pattern since the February 06 Low. This resembles the pattern of December - January that eventually broke downwards after a test-rejection on its 1D MA100 (green trend-line) and the Lower Highs trend-line from the All Time High (ATH).
The 1D MACD though has made a Bearish Cross already, which is however close to be negated following yesterday's Trump announcement on the 5-day ceasefire. Last time that happened was on January 19, after the 1D MA100/ Lower Highs rejection.
So are we within an early January consolidation or after a new Top? Whatever the situation may be, BTC seems to be constrained to a max cap around $77000 and as April begins should technically start the new Bearish Leg as per this dominant Bear Cycle pattern.
So what do you think? Are we going to see a final rally before rejection or straight break to lower prices? Feel free to let us know in the comments section below!
---
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
---
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
The 1D MACD though has made a Bearish Cross already, which is however close to be negated following yesterday's Trump announcement on the 5-day ceasefire. Last time that happened was on January 19, after the 1D MA100/ Lower Highs rejection.
So are we within an early January consolidation or after a new Top? Whatever the situation may be, BTC seems to be constrained to a max cap around $77000 and as April begins should technically start the new Bearish Leg as per this dominant Bear Cycle pattern.
So what do you think? Are we going to see a final rally before rejection or straight break to lower prices? Feel free to let us know in the comments section below!
---
** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
---
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
Trade Forex on TradingView (zero commissions)👉 go.tradenation.com/visit/?bta=37104&brand=tradenation
I trade Crypto (perps/swaps) with👉 app.defi.app/join/5b8X2l
Funded trading -10% off👉 hyrotrader.com/?coupon=tradingshot
I trade Crypto (perps/swaps) with👉 app.defi.app/join/5b8X2l
Funded trading -10% off👉 hyrotrader.com/?coupon=tradingshot
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.
Trade Forex on TradingView (zero commissions)👉 go.tradenation.com/visit/?bta=37104&brand=tradenation
I trade Crypto (perps/swaps) with👉 app.defi.app/join/5b8X2l
Funded trading -10% off👉 hyrotrader.com/?coupon=tradingshot
I trade Crypto (perps/swaps) with👉 app.defi.app/join/5b8X2l
Funded trading -10% off👉 hyrotrader.com/?coupon=tradingshot
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.