Post #1210582: #Bitcoin Weekly Update I see here & there that as…
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#Bitcoin Weekly Update I see here & there that as #BTC just got rejected by the top of the range, it might revisit its bottom. Considering the weekly candle is a bullish engulfing candle, my take is that chances to break this range to the upsideare greater.

#Bitcoin Weekly Update I see here & there that as #BTC just got rejected by the top of the range, it might revisit its bottom. Considering the weekly candle is a bullish engulfing candle, my take is that chances to break this range to the upsideare greater.

Feb 20, 2023 09:12 AM |
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washigorira
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#Bitcoin is in a Pressure Cooker Progressing in a descending channel for almost two and a half years, #BTC is now sandwiched between the upper line of the channel & the 200 weekly SMA. One of the two will have to give. #Bitcoin Bullish Engulfing Candle (6M) #BTC is well on his way to close a 6 months bullish engulfing candle. When it happened in past cycles, bear market was over. One month left before closing. #Bitcoin is at the start of a New Bull Market May is about to end & #BTC is still holding its 38.2% Fibonacci retracement level. It looks promising. #Bullish #Bitcoin 1st STOP (M) The 38.2% Fibonacci retracement level also known as the "1st Stop" will give you a hint on whether a trend is over or not. Usually when price closes above it, the trend can be considered over & a new trend can start. #BT #Bitcoin Nothing Unusual #BTC has this habit to react when approaching the top of the Gaussian Channel. Pausing or getting rejecting from it before resuming its course. Nothing unusual. #Bitcoin could reach $61,000 or more Through #Bitcoin history whenever Stochastic RSI got back above 20 it went straight to 80. Recently it got back above 20 but is yet to complete its 100% move till the 80. It is currently only at 50% which leaves

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