Our updated chart for you all.
Price is still in the channel. The middle of the channel did manage to Hold as support and the price has now risen above the mid of the channel and the crucial 46580 support level (yellow)
The Bears must be scared or even start to have animal orientation issues, some of the might be looking in the mirror trying to see a bull... 'Oh mama , why did you make me a bear?'
Don't laugh at the bears especially with SEC and Yellen and Powel saying they will be back to regulate cryptos.
Look at the 'red part of the chart', the 45600. That would be the point that would scare some Bulls and give Bears a chance to regroup and try to have a party.
The 50k (50,000) is a well rounded PSYCHOLOGICAL resistance and these resistances are tricky as some Big Whales give no attention to the chart but they have these numbers in mind.
'I will sell some at 50,000'.... This kind of thinking
After that it's 57,500 resistance which has been the level we had given earlier.
Volume:
Please stop asking me about divergences, I get like a million questions, Professor don't you see the divergence, Professor look at volume , Professor check the RSI , Professor why don't you look at the order books (like I would ever trust to look at Binance order book! hahahaha).
You guys go 'look' at the divergences on Nasdaq that they been there for 7 years but the price still goes up.. Come on people, stop overthinking, try to keep it simple.
So here we go with volume:
I see NO SPIKE between the 10th of August and now. Yet the price of Bitcoin is rising. Voila!
Maybe all we need is one nice green spike to stop crawling but rather to just FLY over 57k before the end of the month. Let's go!
One Love,
the FXPROFESSOR
Price is still in the channel. The middle of the channel did manage to Hold as support and the price has now risen above the mid of the channel and the crucial 46580 support level (yellow)
The Bears must be scared or even start to have animal orientation issues, some of the might be looking in the mirror trying to see a bull... 'Oh mama , why did you make me a bear?'
Don't laugh at the bears especially with SEC and Yellen and Powel saying they will be back to regulate cryptos.
Look at the 'red part of the chart', the 45600. That would be the point that would scare some Bulls and give Bears a chance to regroup and try to have a party.
The 50k (50,000) is a well rounded PSYCHOLOGICAL resistance and these resistances are tricky as some Big Whales give no attention to the chart but they have these numbers in mind.
'I will sell some at 50,000'.... This kind of thinking
After that it's 57,500 resistance which has been the level we had given earlier.
Volume:
Please stop asking me about divergences, I get like a million questions, Professor don't you see the divergence, Professor look at volume , Professor check the RSI , Professor why don't you look at the order books (like I would ever trust to look at Binance order book! hahahaha).
You guys go 'look' at the divergences on Nasdaq that they been there for 7 years but the price still goes up.. Come on people, stop overthinking, try to keep it simple.
So here we go with volume:
I see NO SPIKE between the 10th of August and now. Yet the price of Bitcoin is rising. Voila!
Maybe all we need is one nice green spike to stop crawling but rather to just FLY over 57k before the end of the month. Let's go!
One Love,
the FXPROFESSOR
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