Bitcoin Daily showing us all that Bitcoin has support AGAIN
The daily chart once again shows us that Bitcoin has got a huge amount of support. Despite repeated FUD against BTC by banking organisations like the FED and IMF, it continues to run along the lower trendline of the channel.
The latest "trouble" by Silvergate has produced a lower sell off that I think people expected
The TA show us very nice things
MACD & RSI
Weekly is Bullish, still below 0 an climbing. RSI just above 0 and dipping to line
Daily Is Bearish but below 0 now and has begun turning Bullish. RSI is below 0 and already turned up
4 Hour is similar to the weekly but RSI is already below 0 and turned
1 hour <ACD is dan near horizontal on 0 line due to reduced Volume RSI is very oversold
PA still in channel nd suported on the 50 EMS right now, with the 100, 200 just below
There is a lot more TA for BTC that is Good but I'll share that in other charts
For me, this all points to a coiled spring. and so we wait for Fundamentals, which, Today, may start coming in as Powel, from the FED ( DXY support group) begins his talking, whch ends tomorrow.. It is ALWAYS wprth remembering that the FED etc are NOT governmental departments as so many think, but a group of representatives of the PRIVATE BANKING sector that TELL Governments what to do.
Sentiment for Bitcoin is fragile right now as is seen by the higher % rises in S&P and Nasdaq yesterday but that simple fact that Bears have once again been unable to drop PA below that line of support screams of hiuge support. Bitcoin can play a waiting game it seems
The latest "trouble" by Silvergate has produced a lower sell off that I think people expected
The TA show us very nice things
MACD & RSI
Weekly is Bullish, still below 0 an climbing. RSI just above 0 and dipping to line
Daily Is Bearish but below 0 now and has begun turning Bullish. RSI is below 0 and already turned up
4 Hour is similar to the weekly but RSI is already below 0 and turned
1 hour <ACD is dan near horizontal on 0 line due to reduced Volume RSI is very oversold
PA still in channel nd suported on the 50 EMS right now, with the 100, 200 just below
There is a lot more TA for BTC that is Good but I'll share that in other charts
For me, this all points to a coiled spring. and so we wait for Fundamentals, which, Today, may start coming in as Powel, from the FED ( DXY support group) begins his talking, whch ends tomorrow.. It is ALWAYS wprth remembering that the FED etc are NOT governmental departments as so many think, but a group of representatives of the PRIVATE BANKING sector that TELL Governments what to do.
Sentiment for Bitcoin is fragile right now as is seen by the higher % rises in S&P and Nasdaq yesterday but that simple fact that Bears have once again been unable to drop PA below that line of support screams of hiuge support. Bitcoin can play a waiting game it seems
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