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Bitcoin
Ticker: BTC=
Price: $18294.80
Bitcoin Outlook
Shayne Heffernan, CEO and Founder of Heffx and Knightsbridge Live, said with Bitcoin’s recent ascent, there are now only one resistance left for it to break — the old all-time high of around $20,000.
It was also the actual monthly close of Bitcoin in 2017; $20,000 was the level that Bitcoin tried to break in 2017. It peaked at around $19,700 at the time.
The weekly and monthly charts now suggest there is further room for Bitcoin to increase and will see a top of $145,000 to $150,000 between September and November 2021.
Technical Indicators
Overall, the bias in prices is: Upwards.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 13,959.53.
The projected upper bound is: 19,481.72.
The projected lower bound is: 17,341.40.
The projected closing price is: 18,411.56.
Candlesticks
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 8 white candles and 2 black candles for a net of 6 white candles. During the past 50 bars, there have been 33 white candles and 17 black candles for a net of 16 white candles.
Three white candles occurred in the last three days. Although these candles were not big enough to create three white soldiers, the steady upward pattern is bullish.
Momentum Indicators
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 89.4524. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 3 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 82.40. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 11 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 211.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 4 period(s) ago.
MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 42 period(s) ago.
Rex Takasugi – TD Profile
FOREX BTC= closed up 618.520 at 18,261.410. Volume was 54% below average (consolidating) and Bollinger Bands were 143% wider than normal.
Open High Low Close Volume 17,636.900 18,491.570 17,471.891 18,261.410 267,250
Technical Outlook Short Term: Overbought Intermediate Term: Bullish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 16,399.60 13,176.39 10,894.32 Volatility: 40 49 52 Volume: 706,201 512,687 579,830
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary
FOREX BTC= is currently 67.6% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods.
Our volume indicators reflect moderate flows of volume into BTC= (mildly bullish). Our trend forecasting oscillators are currently bullish on BTC= and have had this outlook for the last 52 periods. Our momentum oscillator is currently indicating that BTC= is currently in an overbought condition.
Bitcoin
Ticker: BTC=
Price: $18294.80 Bitcoin Outlook Shayne Heffernan, CEO and Founder of Heffx and Knightsbridge Live , […]
