BTC Update - what's going on? Confluence appears...
The latest "bull" move seems to have topped out at a nice confluence. Hindsight is 2020.... too. 2022...
Confluence:
- 1.618 extension off the low.
- 382 retracement of the bear move from 69k to 32k
- 12 Week EMA
- What about the 200 day MA?
I'm starting to feel bull, but we'll need to see this retrace with a proper bounce. Lots of indicators suggest an uptrend regardless if it is bull or a dead cat bounce. If we're lucky we'll retrace the bear move to 786 and get some nice bear entries after enjoying a nice bull rally. My count remains topped out at 69k, while some suggest 100k.
I'm willing to compromise at 75k based on some previous analysis but not 100k... let's see! :)
Confluence:
- 1.618 extension off the low.
- 382 retracement of the bear move from 69k to 32k
- 12 Week EMA
- What about the 200 day MA?
I'm starting to feel bull, but we'll need to see this retrace with a proper bounce. Lots of indicators suggest an uptrend regardless if it is bull or a dead cat bounce. If we're lucky we'll retrace the bear move to 786 and get some nice bear entries after enjoying a nice bull rally. My count remains topped out at 69k, while some suggest 100k.
I'm willing to compromise at 75k based on some previous analysis but not 100k... let's see! :)
