#BTCUSD situation right now
The market is definitely conflicted, The 1 Hr, 4 Hr and 1 D are showing mixed signals:
1 HR: The price was rejected from the local downtrend line yet a low Stoch RSI has been enough to keep the bears from pulling the price down further.
4 HR: After being rejected from the local downtrend line, the price is continuing to trade below the ichi cloud which is acting as a resistance level. Stoch RSI is bottomed out which signals that the price may go higher and test the ichi cloud, if it breaks it will test the downtrend line. If the ichicloud does not get penetrated The price may go down further to a double bottom.
1 D: The Price got rejected by the red sell signal of the Ichi cloud which also intercepts the downtrend line. Since the price got rejected, I expect the price to trade sideways for the next few days.
1 HR: The price was rejected from the local downtrend line yet a low Stoch RSI has been enough to keep the bears from pulling the price down further.
4 HR: After being rejected from the local downtrend line, the price is continuing to trade below the ichi cloud which is acting as a resistance level. Stoch RSI is bottomed out which signals that the price may go higher and test the ichi cloud, if it breaks it will test the downtrend line. If the ichicloud does not get penetrated The price may go down further to a double bottom.
1 D: The Price got rejected by the red sell signal of the Ichi cloud which also intercepts the downtrend line. Since the price got rejected, I expect the price to trade sideways for the next few days.
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