BTC Moment of Truth
Bollinger bands are squeezing on the daily, signalling a major move coming. There are mixed signals.
Bearish: Potential bear flag forming, recent rejection at the 200 week SMA, Equities without enough confirmation of bottoming, DXY without enough confirmation of peaking. BTC needs to go below 20k again for bears to feast.
Bullish: Descending megaphone, 50 day SMA nearing bounce off 200 week SMA, Inverse adam & eve formation, oil and lumber prices falling recently suggesting possible lower CPI report, USiRYY with enough signals for peaking, RSI breaking trend. BTC needs to go above 23k this month for at least a small bull run before recession.
Bearish: Potential bear flag forming, recent rejection at the 200 week SMA, Equities without enough confirmation of bottoming, DXY without enough confirmation of peaking. BTC needs to go below 20k again for bears to feast.
Bullish: Descending megaphone, 50 day SMA nearing bounce off 200 week SMA, Inverse adam & eve formation, oil and lumber prices falling recently suggesting possible lower CPI report, USiRYY with enough signals for peaking, RSI breaking trend. BTC needs to go above 23k this month for at least a small bull run before recession.
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