After weeks of bullish divergence in various indicators bitcoin has been bullish for the past few days.
Everyone is worried about the next big resistance or the next big pump/dump.
Today's post is very simple and just want to highlight how BITCOIN is looking in the most important time frame: THE BIGGER PICTURE.
Long term chart. Weekly chart. Moving averages and key lines spotted.
With all of that said, I still think we'll make a triple bottom or at least a dip to 6.6-7k to fuel up for the major blast that is coming.
There is nothing more powerful than positive divergence.
Boom! Bitcoin is rallying hard!
I see BTC hit $7749. But the alt coins are down. Quite interesting. I can't remember that happening. The direction of BTC is always followed by the alt coins.
I like getting the big picture...
The correlation between alts and btc is always super high due to lack of liquidity in USD for alts.
However they do not always move together. In my opinion, money poors into alts after substantial rallies in Bitcoin. If btc dumps everything dumps.... and when btc rallies, alts tend to follow with certain delay.
Thanks for your support morseke! Enjoy the rally my friend !
Good opinion points.
But still if u zoom out day chart btc makes triangle...and those are not good news
Triangles can be a continuation pattern or an ending pattern depending on where is it formed and how volume looks like. Thanks for your support shotgun!
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