BTCUSD is about to make a critical 1D MA100 test. This is important because in the two rally sequences of the previous Bull Cycle, as long as the 1D MA100 supported, the rally was maintained to the very top. On both instances, the top was at least on the 2.5 Fibonacci extension. The first top of the current rally was in February and its 2.5 Fibonacci extension is on $53,000.
It seems (and certainly is) a very high price for such a sort term time frame but so where those of 2019 and 2020. Bitcoin's 1D technicals are low enough, almost oversold (RSI = 31.645, MACD = -356.200, ADX = 25.834) to technicalls represent a sold buy opportunity. The STOCH indicator in particular shows that right now the price is exactly where it was when in 2019 and 2020 it was consolidating and approaching the 1D MA100.
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It seems (and certainly is) a very high price for such a sort term time frame but so where those of 2019 and 2020. Bitcoin's 1D technicals are low enough, almost oversold (RSI = 31.645, MACD = -356.200, ADX = 25.834) to technicalls represent a sold buy opportunity. The STOCH indicator in particular shows that right now the price is exactly where it was when in 2019 and 2020 it was consolidating and approaching the 1D MA100.
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.