Since reaching Bottom on the 6th February, at $5,920, Bitcoin -0.81% has been going up strong.
I was expecting for Bitcoin -0.81% to retest this bottom almost right away, I noticed many other Bitcoin -0.81% analyst were getting the same signals from charts but yet, this didn't materialize, we are going up strong again.
These can tell us several things, and it can be "good" or "bad" to you depending on how you look at it.
Either the analyst are mostly bad and don't know how to read chart signals, can be trusted, or the signals were there yet the market decides whatever it wants, as it normally works.
We look at the chart, we put up our tools and read what it all have to say. Translate it to English so that you can also understand.
Now, here is how it works. You can have many different signals at all times, depending on what you are looking at. So you can have 3 bullish signals and 2 bearish signals on any specific time frame, so you expect for the price to go up, based on these signals, and this is shared with the public. But it turns out that the bearish signals become stronger and develop into a decrease in price, or even worst, a piece of crazy news comes out, with its intended manipulation purpose and helps push the price down, even against the charts and signals that were looked at before the event.
*"So we always remain open to saying, "anything can happen, at anytime, anyways"****
*** Bitcoin -0.81% is now going up. This is a short term analysis. ***
From the 2 hours chart I checked, you can gain lots of information and even use it to learn how to read charts and trade, let's take a quick look, let's see what we can learn:
Bitcoin -0.81% is now trading above averages. Which is a very good bullish signal. This can also be done with the EMA .
The MACD is on the bullish zone, as well as the RSI and STOCH . They are all trending upwards and you can easily see an uptrend and higher lows all the time. Bullish sentiment is building up.
We need a good close today and good momentum on this time frame, 2h, for this race to become stronger as it is missing a bit a heat.
The daily chart is also looking really good:
The MACD is curving upwards and shows plenty of room for growth.
All the indicators are turning bullish and we are now trading above the 200 SMA line. This very important support was broken, but Bitcoin -0.81% climbed back and it is now moving up.
We need this trend to continue, as regardless of what happened / happens with our own personal positions or trades, we want a strong market, one where we can earn.
Thank you for reading again.