Bitcoin has been pushing up very nice recently with us almost touching 50K, we didnt quite make it and we are getting held up by the R2 resistance level from the pivot points indicator. We are still looking very bullish especially on the upcoming weekly close same goes with our upcoming daily close. gonna be honest i would love to see a drop or pullback here to try and get in a nice couple buys for this next run. I think we could see a pullback but more a shakeout before we really start taking off, whales want to get as many weak hands out of the market, also liquidating buy stop losses. We do seem to be facing some troubles getting fully above the R2 resistance and this could pose an opportunity for some bear momentum. Looking at the MACD we are actually getting a bullish cross which of course play out but we can just as quickly see a fakeout to a bearish cross, if we see a run we focus on the direction of the MA's and the separation they have between each other, also the histogram we want to see greater green bars day after day not a flat looking histogram near the midline. We are starting to see an overall flip for the EMA ribbons which is very nice to see, we are definitely getting some bull momentum but once we start to see an actual full flip with all the ribbons separating is when we will be very very bullish (green ribbons on top) Now the RSI is actually overbought on the daily and we are starting to see a curl coming to the downside, this is another reason why i think its possible for a little pullback, we have been in and out of overbought since the end of july. The main thing here is the RSI staying above the midline, we need to keep hold of the confirmed uptrend! Not financial advice just my opinion!
