Hi all. This week i
m switching to 1D chart cuz there are more interesting things on it but before that let
s check the last analysis main points.
- Pivot point for this week was 10003.96. We will close this week almost 100% probably under it, which means the next one could be negative.
- Parabolic SAR is not changed and it
s still bullish. Now lets move to the actual analysis with the first chart.
Two support levels:
- $9500 - previous resistance and support level
- $9100-9000 - previous resistance and support level and almost 61.8 fibo level
Resistance level: $10500 - previous resistance and 100% fibo level
There`s two very bullish indicators into this chart too:
- Golden cross happened between 50 and 200 MA`s. Very bullish signal in long term.
- Supper guppy indicator. Very good indicator which seems to be turned bullish almost a month ago but i
m checking it now. Check it in tradingview chart if youre interested.
s to Glassnode we can check Bitcoins Reverse Risk (BRR) chart combined with it
s price. In short we can conclude that in every time when BRR bottomed out from the green zone were facing in front of the bull run start to the next ATH or at least local high (like the 14K top from the last summer).
That`s for now from me guys. Wishing you a wonderful and prosper week. And remember that all about BTC is a long term game and almost every single indicator now is pointing north, no matter of $500, $1000 or even more dips for a day or week.