Haven't paid too much attention to the Bitcoin Bi-weekly chart apart from using the RSI as a cycle top/game over indicator.
However after this most recent dip I've noticed that the 2 week order block at 48500 has been a very important macro support resistance area and we've just come back to it to test it as support after breaking out past it.
On the lower time frames you'll see a nice S/R flip of it, after the dump off reclaimed it.
Today is the 2 week close and we have successfully closed above it, so looking good from that stand point.
This is a bit of hopium for myself at this point but I think it is pretty relevant to the overall bullish market cycle, however for full transparency I have moved my assets onto exchanges in case we do see weakness/bear market signals and I will wait to see how far we drop.
Next I will look at bullish/bearish scenarios on the daily, look forward to lots of random lines everywhere.
Hope you had a great weekend, lets hope for a bullish week!
However after this most recent dip I've noticed that the 2 week order block at 48500 has been a very important macro support resistance area and we've just come back to it to test it as support after breaking out past it.
On the lower time frames you'll see a nice S/R flip of it, after the dump off reclaimed it.
Today is the 2 week close and we have successfully closed above it, so looking good from that stand point.
This is a bit of hopium for myself at this point but I think it is pretty relevant to the overall bullish market cycle, however for full transparency I have moved my assets onto exchanges in case we do see weakness/bear market signals and I will wait to see how far we drop.
Next I will look at bullish/bearish scenarios on the daily, look forward to lots of random lines everywhere.
Hope you had a great weekend, lets hope for a bullish week!
