Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
_________
This week and the monthly close is interesting. I think, the smart money is done to accumulate more crypto coins. Now. It's ready to pump their coins. A potential explosive rally may happened in the months to come. I'm not sure if there is another 1 year bull rally to happen but hoping it will happen based on previous historical data of Bitcoin. We will see it eventually
_________
Technical Analysis
It seems like Bitcoin is in accumulation phase than redistribution phase. This is a good news for Bitcoin Bulls and even ALTcoin Bulls too. The price had bounce to $ 29,300.00 (Monthly Support) and breaks several resistances (trend line resistance and lower timeframe resistance) but still trading in a range of $ 28,600.00 to $ 40,750.00. The Monthly, Weekly and Daily Timeframe is now showing signs of a potential reversal from downtrend to uptrend. Monthly RSI bounce on RSI 60 Level but waiting proper confirmation on Monthly Candle closed. Weekly shows several bullish signs which is found in the chart. Daily Timeframe also shows several bullish signs in the chart. In smaller timeframe like 4 HR and 1 HR, there is a first bearish divergence invalidation. I think, we should pay attention on Monthly, Weekly and Daily Timeframe as the trend is potentially to the upside. Related Technical Analysis is in the related ideas.
Monthly Timeframe
Weekly Timeframe
Before
After
Daily Timeframe
Before
After
4HR & 1HR Timeframe
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Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
_________
This week and the monthly close is interesting. I think, the smart money is done to accumulate more crypto coins. Now. It's ready to pump their coins. A potential explosive rally may happened in the months to come. I'm not sure if there is another 1 year bull rally to happen but hoping it will happen based on previous historical data of Bitcoin. We will see it eventually
Technical Analysis
It seems like Bitcoin is in accumulation phase than redistribution phase. This is a good news for Bitcoin Bulls and even ALTcoin Bulls too. The price had bounce to $ 29,300.00 (Monthly Support) and breaks several resistances (trend line resistance and lower timeframe resistance) but still trading in a range of $ 28,600.00 to $ 40,750.00. The Monthly, Weekly and Daily Timeframe is now showing signs of a potential reversal from downtrend to uptrend. Monthly RSI bounce on RSI 60 Level but waiting proper confirmation on Monthly Candle closed. Weekly shows several bullish signs which is found in the chart. Daily Timeframe also shows several bullish signs in the chart. In smaller timeframe like 4 HR and 1 HR, there is a first bearish divergence invalidation. I think, we should pay attention on Monthly, Weekly and Daily Timeframe as the trend is potentially to the upside. Related Technical Analysis is in the related ideas.
Monthly Timeframe
Weekly Timeframe
Before
After
Daily Timeframe
Before
After
4HR & 1HR Timeframe
Note: NOT A FINANCIAL ADVICE TO BUY/LONG OR SELL/SHORT
