naji_ala3raj

Possible BTC Upside Breakout If BTC price action kept the sideways price action on the current level we might get and breakout to the upside. it seems that bulls are consolidating, and bears are getting weaker, thus we might get a break out in the upcoming days, MACD is showing that bearish price action is getting weaker. And as mentioned in a previous idea that EMA ribbon is so close from flipping bullish on the weekly BTC chart.

is btc out of bullish momentum? as of 2/5/2023, btc failed to break above 30k$, price action tested these levels multiple times, but bulls are not strong enough to break above, and they proved to hold support at near 27k$, the way i see this going is side ways price action until the RSI recovers completely from the oversold territory, although MACD is showing weakness in bullish momentum, so the price action might go side ways or slightly bearish, till the bulls regain momentum. not financial advise

the EMA ribbon has always proved to be one of the most efficient indicators to predict whenever the price action is bullish or bearish, taking a look on the weekly BTC chart, the EMA ribbon is about to flip bullish, after more than a year of being bearish, which had the price action moving down to 17k$. right now the EMA ribbon is close from flipping another time, it may take couple of weeks but and we don't know what may happen in this time, but we need this flip to happen ASAP...