OrriginalCrypto on Nostr: #Bitcoin Weekly Candle closed RED for last week, no surprise there. It cannot be ...

#Bitcoin Weekly
Candle closed RED for last week, no surprise there.
It cannot be denied now, PA is under pressure and it is not relaxing.
However, the MACD is now so close to the Neutral line that is could give PA a breather and has room to move.
As you will learn, I am a firm believer in FIB Circles and that Red line we are currently butted up against is a 236 Fib circle. They can be lines of strong resistance.
If you look to the left on the chart, you can see the last 2 occasions we hit one. PA walked through it and then rose higher.
So, as a result, I am ready to sit tight this weel and wait, while being Cautious.
That is what this chart offers me.. I will post other charts and we shall get a better idea of what is really going on.