Higher time-frames have more influence then lower time-frames. With the weekly candle close showing almost no movement, a peak at the 2-week time-frame reveals short-term moving averages showing a top-heavy formation. This suggests price could move down. MACD confirms downwards direction too.
We also see a double top (green circles).
A burst to the upside would come as quite a surprise.
The weekly time-frame itself shows slight upwards momentum.
So overall for now we remain Neutral on BTCUSD.
We also see a double top (green circles).
A burst to the upside would come as quite a surprise.
The weekly time-frame itself shows slight upwards momentum.
So overall for now we remain Neutral on BTCUSD.
