Bitcoin Weekly
Week closed Green but only just, with an indecisive hanging man Doji. This Could be showing a Bullsih potential move higher but I do draw your attention to the Squeeze PA is now in.
PA will react before we hit an apex 99% of the time.
That Apex is around 11 November.
Also, the dotted Trendline has been used as support only 2 times previously, in 2017 and 2019 and on each occasion, we went to a high.
But see how PA has been contained on this line since Feb 2014 and has ranged along it since July 2014.
This is a STRONG line of support and could still be the Spring board to break through the wall at 76K that PA has been below since March 2024
At the same time, we have the MACD heading to cross its Signal line, Bullish once crossed and the RSI is climbing, though slowly.
There are plenty of other pointers that suggest a move higher is imminent.
But we have NO guarantees, EVER.....But Boy oh Boy, am I ever stacking SATS right now. ( and that is not that crappy ALT coins called SATS )
Z-Score ( 2nd Image)
The MVRV Z-score divides the difference between Market cap and realized market cap by the historic standard deviation of the market cap.
Historically, this has been insanely accurate at detecting bitcoin tops and bottoms:
A Z-Score above 7 means bitcoin is vastly overpriced and at a local top.
A Z-Score below 0.1 means bitcoin is underpriced and at a local bottom
Z score is the Lower green line and is currently at 1.57. We have SO Far to go and it may well be soon.
And Fascinating how MVRV also seems to run well with Fibs !...
We are about to witness some amazing price moves....I just hope they are positive....
Have safeguards in place, ALWAYS
