Whaleportal
Whaleportal 2 minutes reading from Bitcoin

Charts: Hitting Upside Rally?

BTC Will go up from here

Here is why 👇 (🧵 )

Bitcoin is still moving within a rising channel. Entered that channel from an uptrend.

It also looks like BTC could form an ascending triangle which is know to have a bullish bias.

USDT dominance has troubles reclaiming lost support and RSI is showing signs of weakness. When this metric goes down, BTC generally goes up.

The

DXY just tested a key level after losing it. Big chances former support becomes resistance and we see the DXY drop (short-term) which would drive the price of BTC up.

Average funding fee on Whaleportal flipped positive, this is something to watch as it has been one of the best indicators in the past months.

If you would trade solely based on this metric you would have been very successful, if understand correctly.

Maintain vision on this structure. FOMC meeting is today and tomorrow, this might cause some volatility for Bitcoin.

As long as we hold this structure the direction is up ⬆️

If we lose the uptrend, things could get ugly quickly.

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This post is based on this twitter thread.

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