Articolo precedente Articolo successivo Tomorrow is the last day of the month of July, and Bitcoin is at a pivotal moment in its lifetime. The crossroads of a possible bear market or bullish continuation is here, and the path chosen will dictate the trend for potentially months or years to come. Each sweep below the support level was bought up, but resistance above also has yet to crack. The reason for the stalemate between the two levels, is because price action on monthly timeframes is trapped between the Tenkan-sen and Kijun-sen.
The last bear market was kicked off by losing such level. The monthly candle is also holding at tradingview bitcoin ondulazione, which is something that failed to happen in early A similar sized move up from the bottom might resembled the measured target from here.
But in bulls favor, support has fallen back to where a TD 9 count was previously broken on the high timeframe.
Bitcoin price has plenty more to suggest the bull run is nowhere yet finished. The next signal is from the Relative Strength Index, which suggests that although Bitcoin got overheated very quickly during this last impulse, the bull run would barely be a whimper compared to the last rally.
There's no bearish crossover All of the charts combined suggest that any bearish action on lower timeframes, was nothing more than a shakeout of epic proportions.
Il contenuto è educativo e non deve essere considerato un consiglio di investimento.