BITCOIN: A floor to pay attention to
Looking at the Weekly chart, we can see how the price has slowly exceeded the 200-period exponential average, retesting it twice as evidenced by the downward movements of the 2 bearish channels.
Since the week of August 14, the price has created a real floor on the average in question, failing to close below it.
With the current one we have 5 Weekly candles that try to go beyond the ema200 without success and in every close the price remains above therefore showing strength.
This could be a sign of lack of bearish strength and we could expect a bullish decision in the short term.
To support this dynamic we have a conformation of positive moving averages that lead to an extension, my Predictum indicator which highlights the bullish direction and the LuTrender indicator is positive in the short term.
This is not an invitation to invest or increase positions but only and exclusively a sharing of my thoughts based on my analyses.
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TAGS:
ETHUSD 
ADAUSDT.P 
LTCUSD.P 
BTCUSDT BTCUSD BTCUSDT ETHUSDT
Since the week of August 14, the price has created a real floor on the average in question, failing to close below it.
With the current one we have 5 Weekly candles that try to go beyond the ema200 without success and in every close the price remains above therefore showing strength.
This could be a sign of lack of bearish strength and we could expect a bullish decision in the short term.
To support this dynamic we have a conformation of positive moving averages that lead to an extension, my Predictum indicator which highlights the bullish direction and the LuTrender indicator is positive in the short term.
This is not an invitation to invest or increase positions but only and exclusively a sharing of my thoughts based on my analyses.
👍 Did you like this post? If you also agree with my view, leave a like
and let me know in the comments 😁
💖 Remember to follow me so you don't miss my future analyses.
🔑 Get access to all my indicators for free for one week, or
Write to me to find out how to get free lifetime access
TAGS:
ETHUSD ADAUSDT.P LTCUSD.P BTCUSDT BTCUSD BTCUSDT ETHUSDT 
LuTrader Garage : linktr.ee/LuTraderGarage
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