Watching for RSI and AO confirmation of this trend. RSI is showing that the strength in this 1D candle may be real, if it moves past our last local high of this week long correction that will be my first indication.
Looking for the AO to do the same. RSI and AO have been very reliable over the last few weeks in spotting trend strength. It also looks like the 4th of a 5 wave Elliott.
My only concern is declining volume, but selling is declining as well. On chain glassnode data all shows Bitcoin nearing the bottom of multiple indicators, and last week we set a record number of whale accounts for 2022. Only thing that might affect us is a new development on Russia Ukraine or some other destabilizing event. But news that the west is ending Covid restrictions is going to help.
Looking for the AO to do the same. RSI and AO have been very reliable over the last few weeks in spotting trend strength. It also looks like the 4th of a 5 wave Elliott.
My only concern is declining volume, but selling is declining as well. On chain glassnode data all shows Bitcoin nearing the bottom of multiple indicators, and last week we set a record number of whale accounts for 2022. Only thing that might affect us is a new development on Russia Ukraine or some other destabilizing event. But news that the west is ending Covid restrictions is going to help.
