BTC update - 3 months later a bullflag has formed, are we now going to do as Gold did?
It's a big one, a mirror of our bear flag we had in the bear market. We also have an SRSI cross on the indicator below, they happen about every 6 months and usually lead to a rally. So it's time for an update, as mentioned in my previous post 3 months ago
it's time to go sidewas for a few months like we've done before. We get no direction until we have a monthly candle close above or below
We have been rangebound so there has been no reason to post but now I think we are nearing the end of this boring crypto summer.. We are still in our box but I think soon we will see the breakout, 6 months after halving as in the last cycle we went on a rally. Bitcoin's clockwork right. And we are in our 5th month of consolidation in our box, just like Gold did, it also had 5 months and then..
What do you think, will this rally break out or not? There are some concerns for a bearish divergence to form in the coming months in the RSI, to invalidate we need to make a higher high in price and indicators. Bearish divergence on weekly or monthly time frames usually marks a top. Won't go into detail but il do a post if it materializes. If Bitcoin bulls fail we will probably have a intra top as in 2019 before the cycle peak in late 2025. I know people are bearish on Alts, maybe it's time for an update on Total2 too?
I hope you enjoyed reading and leave a comment If you want to see more ideas in the future.😃
Please do follow if you want to keep up with my next post. Any upvotes or reblogs are hugely appreciated!
Latest post, check out :
BTC update - GOLD vs BITCOIN - Definitely the fractal to watch🧐
Christopher
Kristiansand, Norway
Source: Photos are chart-screenshots by me from Tradingview.com
follow for our street art contest and blogs about travel, art, photo, crypto & gaming
tagging you here for your thoughts as I value them @mypathtofire :)
Interesting to see this play out live and I am super pumped for my long term holdings to see us consolidating between high 50s and 70! Can you imagine knowing this would happen when we spent so long between 20 and 30?
I am watching the stoch rsi on the weekly chart over the next month. There is plenty of room to grow there before the top. If a breakout doesn’t happen before we are up in overbought territory, I might be locking some into stable coins for a substantial correction. American election will hopefully not be a stick in our spokes too!
Same here, looking forward to the next move :) I didn't think we'd stay here that long until I noticed Gold did, but that's good because we were ahead of the cycle. And building strong support on previous resistance is always great to see. Let's hope SRSI brings us high.😃
We will print a bear divergence if so, agree in your thouths here. 👍 Thanks for commenting sir, have a great day. 😃
I think we are approaching a golden cross too ok the 100/200MAs, I'm quite bullish if we keep bouncing the fib levels. Hopefully that bearish top doesn't come in yet!
I have picked this post on behalf of the @OurPick project! Check out our Reading Suggestions posts!
Please consider voting for our Liotes HIVE Witness. Thank you!
Thank you. A golden cross thats nice. Thanks for visiting. 😏
!LOL
lolztoken.com
Because he Neverlands
Credit: reddit
@digi-me, I sent you an $LOLZ on behalf of curart38
(2/8)
Delegate Hive Tokens to Farm $LOLZ and earn 110% Rewards. Learn more.
That huge divergence when we were @ ~70k was really scary, but turned out to be a great opportunity to buy @ 55k. Halving year... possible interest cuts. Looks like a great setup to go over 100k soon.
Yea what we all are waiting for, lets go :) Thanks for visiting and commenting, appreciated. Have a great weekend :)