Graph – BTC Projection (07-08-2022)

Attached is the 4-hour chart of BTC against USD, at a focal price of $21,815 (own elaboration in Tradingview). Several readings: the blank exponential moving average is the “long term” one, which after surpassing it will cause the Japanese candlesticks to return to “bullish” territory. The relative strength index is holding steady above 50%, which strengthens the above criterion. The recent price has been accompanied by volume, a relevant aspect to consolidate the ascent. After 6 bearish months, it is too early to declare an end, but we see interesting signs that indicate it. It remains to see the next weekly and monthly closes to be able to do so, but it seems clear to determine that the $20,000 was the floor. We will keep you updated on further developments.