Welcome !
Here are my thoughts on where BTC might be headed in a potential bullish or bearish scenario. This is also with the BTC / tether, I usually use Coinbase, but because the tether pairing is more popular AND this particular one shows the break of the downtrend upper resistance. Keep options open !
Bear side; most indicators oversold via 4 hr . Upcoming .618 fib level. Plus the volume is dissipating. Increasing price with decreasing volume shows lack of interest.
Bull side, Breaking the downtrend was a huge plus. On the daily time frame, the RSI and Money flow aren't in the oversold region. Stochastics are up there, but the real sell indication is when both lines cross below the 80.
This upper region is where smart money likely collects their profits, seeing as we have not broken the 13k resistance. So be careful !
If we can break past and hold the .618 as support I wouldn't be surprised to see a spike up to 12,500 to 13. The trend is your friend, and time will tell ! Just my two satoshis and good luck!
Here are my thoughts on where BTC might be headed in a potential bullish or bearish scenario. This is also with the BTC / tether, I usually use Coinbase, but because the tether pairing is more popular AND this particular one shows the break of the downtrend upper resistance. Keep options open !
Bear side; most indicators oversold via 4 hr . Upcoming .618 fib level. Plus the volume is dissipating. Increasing price with decreasing volume shows lack of interest.
Bull side, Breaking the downtrend was a huge plus. On the daily time frame, the RSI and Money flow aren't in the oversold region. Stochastics are up there, but the real sell indication is when both lines cross below the 80.
This upper region is where smart money likely collects their profits, seeing as we have not broken the 13k resistance. So be careful !
If we can break past and hold the .618 as support I wouldn't be surprised to see a spike up to 12,500 to 13. The trend is your friend, and time will tell ! Just my two satoshis and good luck!