BTCUSD: Warning for the bears - BTC is in the bull market now

This is the weekly chart of BTC. The pattern on weekly RSI is quite clear. Below 50, bear market. Above 50 Bull market. The recent surge has taken weekly RSI above 50 and you can see it was the level of resistance throughout the bear. There are many other indicators which would point to same bullish momentum. You could still go for short but this is not 2018 so beware!

تعليق:

This is what I called out when BTC was crazy hot. The wave count looks still active. I think we have seen the bottom of 4. There was wave 3 overthrow followed by pull back below the channel line in wave 4. This is inline with elliot wave guidelines.