The setup here looks undeniably favourable for the bulls.


At this stage it is hard to find argument for the bear case beyond the fact that Bitcoin has not made a local higher high above $82,700.
Currently, we are sitting above the:
- 1D 200 SMA + EMA
- 1W 50 EMA
- RSI back above 50 after oversold
Throughout Bitcoins entire history, when it has been in this position, it has confirmed that the low is secured.
If we were to proceed to new lows here, it would be the first time that it has ever happened after the above conditions were met.
Locally, we are consolidating between the 50EMA and 50SMA.
The monthly close is tomorrow - close above $76,500 and another domino falls in favour of the bulls.
Statistically, if we be 100% objective based on the data points...
The only levels left for the bears are:
- $82,700 local high
- 1W 50SMA
The bulls have already reclaimed:
- 1D 100SMA
- STH Cost basis
- True market mean
- Weekly RSI 50
- 1D 200 EMA +SMA
- 1W 50EMA
- 200 DMA
- HTF structure
- Bull market support band
- 1D 3D 5D Suptertrend
BTC-0.41%
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GateUser-4def4e14
· 2 hours ago
To The Moon 🌕
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GateUser-0eddec3f
· 3 hours ago
nice
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GateUser-8f799ff5
· 3 hours ago
Japan’s stock market is dominated by the Nikkei 225 and TOPIX, featuring major technology, automotive, financial, and consumer companies.
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Xype
· 15 hours ago
Us�۵wi��E͗^��ۜ� r��>ɂ�D� �
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