BTC SUPPORT BANDS LONG TERM

4 มิ.ย. 2023

BTCUSD

1. Long term support bands on the daily just turned on today, if we close the day with this signal, we might see higher prices over the next coming days.

2. After the last price expansion or GAP on march 17 2023, BTC creates a new broadening formation, closing only 50% of the gap on the daily chart with a double test of it, may 12th and may 25th.

3. What I see here is a 40% retracement, very healthy, consolidation for the last 20 days at the bottom of the broadening formation, very healthy, long term support band 21EMA vs 30SMA losing down trend momentum and flipping to the upside Super healthy.

4. if you'd like to see a clearly picture, please take a look over the weekly chart where it show the price expansion, the broadening formation, the retracement 40% and the long term support band remains intact where BTC is bouncing of the 21EMA, all this confluence is not coincidence, we are about to see higher prices of BTC over the next weeks.

5. BTC miners are consolidating, MARA, RIOT, HUT8, CLEANSPARK, dropping price with BTC going up, seems to me like a shake out before go up, COIN and MSTR are not miners also consolidating and about to breakout. they all are about to see a bigger move as well.



AS USUAL TIME WILL TELL...