Let's examine
BTC
#BTC
1 - it is still trading higher on that trendline, good news.
2 - it has formed a Symmetrical Triangle formation.
We've shown these before, best example was
VIX
, it cratered since the break.
These can really pack a punch. Have to keep an eye in the direction that they break, they do tend to be CONTINUATION patterns!!!
IMO #bitcoin could be setting up for 2024
PART 2
BTC
WEEKLY:
RSI looks okay
Not exactly like mid 2019 or late 2020 but there's SOME resemblance.
#BTC $ flow looks pretty good.
If it stays here, historically it has a pause and then pushes higher
Then we reach the higher level, thick yellow line, where #bitcoin tends to peak.
BTC
#BTC 1 - it is still trading higher on that trendline, good news.
2 - it has formed a Symmetrical Triangle formation.
We've shown these before, best example was
VIX
, it cratered since the break. These can really pack a punch. Have to keep an eye in the direction that they break, they do tend to be CONTINUATION patterns!!!
IMO #bitcoin could be setting up for 2024
PART 2
BTC
WEEKLY: RSI looks okay
Not exactly like mid 2019 or late 2020 but there's SOME resemblance.
#BTC $ flow looks pretty good.
If it stays here, historically it has a pause and then pushes higher
Then we reach the higher level, thick yellow line, where #bitcoin tends to peak.
