Bitcoin (BTC) closed Monday’s candles in an incredibly bulling way. I haven’t seen anything so bull for a long time, as the headline suggests, at least a year. Thanks to that, moon candles also look much better than they did a few days ago. Especially the big initiative of shoppers from the end of the month. Personally, this price action surprised me a lot. Rarely does a game changer come at the last minute.
Current situation at 1D BTC / USD
As mentioned in the introduction, bitcoin was created at all the most bull candles for at least the last year. Thanks to that, even the monthly close looked pretty good, which we did showed yesterday. The candle alone makes an appreciation of about 14%, which is an excellent result. Thanks to that, we have really pure ones ahead of us impulse candles. But of course I have a bit of a problem with the fact that it is rather easy above average volumes.
The candle itself is also a breakthrough, because it has overcome S/R level 42 000 USD a 20 days a 50 days moving average. So they managed to overcome confluence – we must not forget the low volume node on volume profile. Bitcoin therefore has several partial successes. However, from the chart you can see that 100 days the moving average acts as a resistance.
So, in fact, growth is halting at the same levels as it was two weeks ago. So can bitcoin move forward? We’ll find out soon enough. We want to test $ 47,000, where there is also strong confluence, but of course it is already resistant.
Indicators
Daily RSI is currently 60 points, so the market has gotten somewhere again and there is logically still room for growth. MACD has again after the bullish cross.
In conclusion
Bitcoin works very well for me in all time frames. This does not mean, however, that nothing can go wrong like in mid-February. Markets can be so dynamic that a few minutes are enough and everything is different. However, I really like the Monday candles, because the shoppers showed a very strong initiative. So we’ll see.
ATTENTION: No data in the video is an investment board. The analysis does not try to predict future price developments. It serves exclusively as educational content on how to approach the market. Before you invest, do your own research and analysis, you always trade at your own risk. The kryptomagazin.cz team strongly recommends individual risk considerations!
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