Bitcoin ($BTCUSD) at critical juncture

Bitcoin ($BTCUSD) at critical juncture


July 2022


Alex Cole

$BTCUSD struggles with zero line as price bounces within range.

Since the lows of June 18th, the worlds largest cryptocurrency has moved mostly sideways now trading just under $20,000.  Last week, as price rallied a little, GoNoGo Trend painted weaker pink "NoGo" bars and GoNoGo Oscillator was able to break out of a GoNoGo Squeeze into positive territory.  It quickly reversed however, with the oscillator puncturing the zero line to the downside triggering a NoGo Trend Continuation icon (red circle) to appear above the price bar. This week price remains in a "NoGo" trend with strong purple bars.  If the zero line acts as resistance from here forward, expect price to test the lows of the range once more.