We May See Red Monthly Candle in April on Bitcoin Chart
Bitcoin is going up for 3 months. We see 3 successive green candles on Bitcoin price chart. We saw it only in 2021 bull season. We havent seen these candles during bearish season. So, I may not be possible to see 4th green candle.
Bitcoin price is on 8-month moving average which show us the trend of Bitcoin. When Bitcoin stays on this average Bitcoin moved as bullish as we see it on the chart.
It may be correction month in April. Bitcoin price is away from 8-month moving average and may touch again..
As we see on daily chart of Bitcoin, correction is close to us. We will see correction move in a few days. MACD Indicator will be crossed. Fisher Indicator is also ready to reverse.. RSI Indicator is too high.
So, I am in bearish part of market for a month. My plan is to increase the amount of crypto. So Selling at high and buying at low is best way to increase...
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Excellent analysis, @chorock! It's quite interesting to see that Bitcoin has been consistently green for the past 3 months. Your observation about this pattern only occurring in the 2021 bull season further emphasizes the possibility of a market correction soon. The fact that Bitcoin is on the 8-month moving average suggests that it might continue moving as bullish, but a correction may be imminent.
The daily chart indicators, such as MACD, Fisher, and RSI, seem to support your prediction of a correction in the near future. Your bearish stance for the next month seems well-founded based on this evidence. It's a smart move to plan on increasing your crypto holdings by selling at a high and buying back at a lower price during the anticipated correction. Thanks for sharing your insights and strategy with the community. Good luck with your trades!
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