BTC: This needs to happen soon for bull trend to remain!

٢٧ يونيو ٢٠٢٠

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The RSI is currently at an interesting level. Historically, bullish trend remains when RSI stays above its MAs, and the trend turns to bearish when RSI falls below.

Bullish turning point: RSI attempts at MA cross over from above and holds
Bearish turning point: RSI attempts at MA cross over from below and fails

We like using the 2D RSI for BTC trends. Currently, the RSI is showing signs of a bearish reversal. In order for the bullish trend to remain, BTC's next push to the upside needs to be strong enough for the RSI to break above its MAs (eg. similar to June 2019).

How likely do you think we are getting a strong upward momentum soon? All thoughts and critics are welcomed!

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٢٩ يونيو ٢٠٢٠

ملاحظة

BTC remains in a bullish trend and we are currently at a level of great risk-reward setup.
See the update below from both fundamental and the technical perspectives.

٣ يوليو ٢٠٢٠

ملاحظة

After another week of side way actions, BTC is looking less bullish for the short-term.

٦ يوليو ٢٠٢٠

ملاحظة

Detailed weekly setup updated. Downward pressure expected at 9.8k.

١٢ يوليو ٢٠٢٠

ملاحظة

The current low market interest might lead to a prolonged correction, and the more times we fail at breaking up, the more bearish BTC looks for the short-term. CME institutional traders’ net position remains similar to the level in mid-February 2020 (the BTC price peak before "black Thursday" 40% drop), and it has been dropping significantly since BTC attempted 10k. This makes it very hard to argue the short-term bull side.