Why Bitcoin cant go up right now ?

2022년 7월 28일

After FED's interest rate decision Bitcoin started increasing quickly to its channel's resistance level. If it's wanna breakout from the channel we need a high volume at breakout. Importing point in this situation is because of FED, Bitcoin increased without being accumulated. So before a breakout, we have to see an accumulation zone(for example flag formation) that's how BTC can take power to breakout.

-Moving averages below price saying uptrend

-CCI is in the overbought zone. A correction move can happen.

-Momentum turned positive newer.

-ADX is 36 so the trend still can get more powerful after an accumulation.