💰 #BTC WEEKLY SUMMARY
The weekly Stoch RSI is at very elevated levels, but being overbought doesn’t necessarily mean a sharp drop is coming. BTC can cool off through sideways movement rather than plunging. 📊
I’m not expecting new highs this month. My preferred scenario is consolidation around current prices or slightly below. There’s no point forcing a long position that would only be profitable if Bitcoin rises immediately.
This pause would allow momentum to reset, while also giving the WMA50 and moving VWAP room to resume their upward trajectories. That’s the combination I’m looking for before the next major rally.
A calm or boring phase now could pave the way for a much more interesting move later on. 📈
#BTC #BinanceSquareTalks
The weekly Stoch RSI is at very elevated levels, but being overbought doesn’t necessarily mean a sharp drop is coming. BTC can cool off through sideways movement rather than plunging. 📊
I’m not expecting new highs this month. My preferred scenario is consolidation around current prices or slightly below. There’s no point forcing a long position that would only be profitable if Bitcoin rises immediately.
This pause would allow momentum to reset, while also giving the WMA50 and moving VWAP room to resume their upward trajectories. That’s the combination I’m looking for before the next major rally.
A calm or boring phase now could pave the way for a much more interesting move later on. 📈
#BTC #BinanceSquareTalks