As we can see there is a bull flag forming after the two green candles from this morning, very possible that this could be the pump before the halving
Indicators like RSI and MACD can still keep moving up or sideways in the upside range, when $BTC pumps it loves to run on the overbought territory, this is just a short term position
Here my Bitcoin 4hr Chart
Moving to a higher time frame chart, the Bitcoin 4hr chart it looks even more bullish in the short term, where we can see $BTC price action bouncing from the 200 EMA, RIS and MACD still ascending with room to go
Here my Bitcoin 1D chart
Finally when I look at the $BTC daily chart we still have a couple of things that doesnt give me that much confidence, besides Im not so good identifying bullish patterns
1- 50 EMA acting as resistance
2- Decending trendline still respected by the price, as we can see the white descending line on top of that green candle
3- RSI and MACD still very in no trade zone, no clear sign on what direction they will take
I really looks like the same story ever since $14k, very similar to that descending patter Bitcoin had from 2018 $20k top to December 2018 $3100, every single rally gets rejected $14k, $10k and now seems like $7k is the current top, there are still some insensitive for BTC to pump
1- Halving coming up
2- Decoupling from traditional market, right now seems to be following S&P500 but eventually it will create its own moves
3- Market has been very very bearish for the past month, after low volume a big move is expected
$BTC just jump 10% up in the less than 3 hours this morning, in the short term it looks bullish but Im still waiting confirmation from the 1d chart because if my long is short term successful and at the same time we get that confirmation on the 1d for the first time ever I may leave it open for a swing trade depending how far it moves from my liquidation point, will keep you posted, I dont usually trade every day but will keep all my trades on this log.
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