BTC has indeed put on a show within the past 48 hours. We notice the left fibonacci eye (bullish eye) derived by drawing fib circles from the bottom of the bull action to the peak. The right one (bearish one) is showing the bearish fib levels. As for the flag represented by the yellow trend lines, this indicates that we are consolidating in the flag.
Breakout could happen before the 8:00 a.m. EST but the current sentiment remains bullish (as evident in the fib circles). 1hr and 4hr still show possible bullish action based on Stochastic RSI. This action is helping other ALTs. I do not trade BTC but I have to admit it is the crypto king until a successor to the throne is declared. So crypto traders must watch it carefully.
Leave me comments, thumbs up if you like this content.
Disclaimer: This is not trading advice. I do not hold any position in BTC. I trade ETH and may at any time have a position or be on the sidelines.
Breakout could happen before the 8:00 a.m. EST but the current sentiment remains bullish (as evident in the fib circles). 1hr and 4hr still show possible bullish action based on Stochastic RSI. This action is helping other ALTs. I do not trade BTC but I have to admit it is the crypto king until a successor to the throne is declared. So crypto traders must watch it carefully.
Leave me comments, thumbs up if you like this content.
Disclaimer: This is not trading advice. I do not hold any position in BTC. I trade ETH and may at any time have a position or be on the sidelines.