#BTC is confirming a bearish crossover on the MACD in the monthly timeframe
Historically in every previous cycle each time the MACD line crossed below the signal line on the monthly chart, it has marked the beginning of a bear market
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Itβs been a while since my last update
Weekly MACD was close to confirming a bearish crossover
This led to a correction to 107,2k before the market rallied to 126,5k
Price action remains under the influence of the bearish MACD crossover so caution
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#Bitcoin
Monthly RSI is starting to show signals similar to the weekly
However MACD still suggests that downside pressure could continue
As long as the MACD line hasnβt crossed above the signal line, there is no confirmation of a sustainable bullish reversal
$BTC
First weekly RSI βbuyβ signal since July 2022
Back in 2022 that signal led to a rally, though it didnβt mark the final bottom so caution is still warranted
That said, the market is starting to enter interesting accumulation levels π
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In the image on the left, the sky gradient appears organic and the distant balloons look more realistic. The fabric shows contrast and appears more realistic than the others
@PerleLabs Right
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