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BTC Winter Outlook.
It looks like bitcoin has just laid the foundations of a major trend reversal and potentially given itself the launchpad needed to push out of this 215 day consolidation structure.
Momentum appears to be shifting with the chart printing the first higher low, higher high and now a higher low with strong price action to support a continuation to the upside to AT LEAST test the upper bounds off the consolidation structure. We have also just broken into the bullish control zone on the RSI and ar working on printing the first bullish MACD histogram wick to boot.
An outcome where market makers push price down to quick-wick out late longs could still be on the cards but even in such a scenario I anticipate buyers to maintain their dominance through till the end of the year.
Happy trading!
Momentum appears to be shifting with the chart printing the first higher low, higher high and now a higher low with strong price action to support a continuation to the upside to AT LEAST test the upper bounds off the consolidation structure. We have also just broken into the bullish control zone on the RSI and ar working on printing the first bullish MACD histogram wick to boot.
An outcome where market makers push price down to quick-wick out late longs could still be on the cards but even in such a scenario I anticipate buyers to maintain their dominance through till the end of the year.
Happy trading!
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