Good morning, traders ☀️
The Fed rate decision slightly damaged the monthly candle structure, but overall everything still looks ok 🛡️
At peak levels of 79,523, BTC posted a monthly gain of 21.2%, which already looks very strong by itself.
Right now, a bullish Morning Star 🌅 reversal pattern is forming on the monthly chart, as April’s green candle has absorbed a significant part of February’s red candle (see chart).
However, for a “perfect” formation, the red candle should be fully absorbed. That would require today’s daily candle to close above 79,400, which currently looks unlikely.
🦬Nevertheless, even the current structure still looks quite strong.
Personally, I rarely pay attention to candlestick patterns on timeframes below the daily, since their influence there is much weaker and the formations themselves are often too random.
👀 Let’s closely watch April’s close.
Peace 🌍
The Fed rate decision slightly damaged the monthly candle structure, but overall everything still looks ok 🛡️
At peak levels of 79,523, BTC posted a monthly gain of 21.2%, which already looks very strong by itself.
Right now, a bullish Morning Star 🌅 reversal pattern is forming on the monthly chart, as April’s green candle has absorbed a significant part of February’s red candle (see chart).
However, for a “perfect” formation, the red candle should be fully absorbed. That would require today’s daily candle to close above 79,400, which currently looks unlikely.
🦬Nevertheless, even the current structure still looks quite strong.
Personally, I rarely pay attention to candlestick patterns on timeframes below the daily, since their influence there is much weaker and the formations themselves are often too random.
👀 Let’s closely watch April’s close.
Peace 🌍
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Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.