Bitcoin's Spinning Top Candlestick Pattern
Bitcoin's 1 wk time frame candlestick pattern is telling us that there is an indecision in market. Probably, we may have a sideways type of market then continue it's uptrend after the bulls win.
Usually, traders use spinning tops as a sign to close out long positions and they look for opportunities and potential coin for short positions.
MACD isn't crossing in the 1 wk time frame yet that's why I can see that Bitcoin is still in a correction. We may not know how long will it take before the beginning of a new market cycle and perform higher highs but I believe that we have to eliminate the weak hands first before volume spikes.
RSI is in the middle and it shows that we will be in a consolidation phase or sideways market.
Key is to Patiently HOLD.. because after all these correction, there will be a rise.
LONG LIVE BITCOIN!
Usually, traders use spinning tops as a sign to close out long positions and they look for opportunities and potential coin for short positions.
MACD isn't crossing in the 1 wk time frame yet that's why I can see that Bitcoin is still in a correction. We may not know how long will it take before the beginning of a new market cycle and perform higher highs but I believe that we have to eliminate the weak hands first before volume spikes.
RSI is in the middle and it shows that we will be in a consolidation phase or sideways market.
Key is to Patiently HOLD.. because after all these correction, there will be a rise.
LONG LIVE BITCOIN!
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