So, youâre probably seeing Bitcoin rising and hearing all kinds of opinions on what to do next. But what about diving into the actual indicators behind these trends? This is for new traders who want to really understand what theyâre looking at when it comes to price action. Then, you can make your own conclusions and not depend on crazy stuff that is all around
Letâs break down some key indicators:
đ Renko Charts â A Simplified View of Price
Unlike regular candlestick charts that show every tiny price movement, Renko charts focus only on significant price changes. This makes it easier to see the big trends without getting lost in small fluctuations. So, when the Renko chart is showing a strong upward trend like it is now, it means that Bitcoin is consistently moving up by significant amounts.
Why is this important? It filters out the noise and lets you focus on clear price movements that matter most.
đ Moving Average Convergence Divergence (MACD) â Whatâs the Story Here?
MACD is a tool that helps traders spot changes in momentum. It consists of two linesâone fast-moving and one slow-moving. When these lines cross each other, itâs a sign of either an upcoming upward or downward trend. In this case, the MACD lines have crossed upwards, signaling a bullish trend. This means the price is gaining strength and might keep moving up. The bars underneath (called the histogram) also tell you if momentum is increasing or decreasing.
đ Fractals & Parabolic SAR â Detecting Reversals
Fractals are points on the chart that help predict where prices might reverse direction. If you see a fractal above the current price, it suggests a potential downturn; if itâs below, it hints at an uptrend. On the other hand, Parabolic SAR (Stop and Reverse) helps you track the direction of a trend. It shows dots that follow the priceâwhen the dots are below the candles, it means the trend is going up, and when theyâre above, it signals a downward move.
Right now, both of these indicators are showing that BTC is in an upward trend, making this an exciting time to watch.
đŻ So, Whatâs the Outlook?
Given the data, Bitcoin is likely to maintain its upward momentum for the next 24 hours. Thereâs some resistance around $66,500, and if it breaks through, the next target could be $67,500. However, if the price dips below $62,000, it could trigger some short-term selling, so always have your stop-loss in place!
#LearnAndEarn #BTCâïž #square 
