It's possible that BTC is forming a Wyckoff accumulation and is currently in the secondary test (ST) below the selling climax (SC), with lower volume in the ST compared to the SC, and a bullish divergence emerging on the RSI.
This would match with people slowly starting to DCA back into Bitcoin after its significant decline and while it trades around the weekly ma200 and at the power law support.
A relief rally would become more likely above 62k, but there is still a risk of another sell off at the end of the year forming a spring bottom.
This would match with people slowly starting to DCA back into Bitcoin after its significant decline and while it trades around the weekly ma200 and at the power law support.
A relief rally would become more likely above 62k, but there is still a risk of another sell off at the end of the year forming a spring bottom.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.