adammand

Possible bearish return soon

BITFINEX:BTCUSD   比特幣 / 美元
151 0 6
Today, I'm looking at a daily time frame to maintain perspective.

The two lines I have drawn are the support line from the september crash -> 6k crash that we seem to break going back down into the 6ks, and the support turned resistance we're currently dealing with around 8.1-8.2k. This throwback to confirm support turned resistance can happen a lot, falling back off would be bad. The second line is the ATH             resistance on the log scale. It sits just above the log support currently.

So, is it going to fail here? Few things to note here.

1: Stoch RSI . Notice every time we've had a large fall off stoch RSI has crossed in the overbought reason (purple arrows). It looks like it could possibly cross again in a few days.

2: Daily BBands. Notice every time we turned around in the golden highlights. In each of those times, we wicked or came very close to the top daily BBand... which we've done today and the past daily candle.

3: RSI . A turn around here, though it would be lagging, would generate a large hidden bearish divergence with the 9k high. A turn around at ATH             resistance would possibly give a hidden bear div             with the 11.8k as well.

Tthese indicators all make a strong case for bearish continuance or bull reversal since they could likely all confirm or be invalidated at the same time. If market conditions don't change too drastically in the next week (which they very well could - not taking this to the bank), when the log support crosses the ATH             resistance (~4/20 at 8500ish) we could be in a situation where we're simultaneously trying to reclaim log support, break ATH             resistance, pierce the daily BBand, and avoid the stoch RSI crossing. All those invalidating or confirming as they have this entire bear would be a very strong signal to me.

It's also worth mentioning that mixed signals could result - say we pierce the log support and daily BBands but then fail at ATH             resistance, crossing the stoch RSI and forming a large hidden bear div             . I don't know if that's particularly likely, but would certainly be somewhat confusing.

Not pictured, but worth mentioning the bull flag on 4hr and 1hr charts. It slants up which is kinda odd but will be watching that as well. I'm still bought in waiting for anything I've mentioned here to resolve itself.
ZH 繁體中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
AR العربية
首頁 股票篩選器 外匯篩選器 加密貨幣篩選器 全球財經日曆 如何運作 圖表功能 網站規則 版主 網站 & 經紀商解決方案 小工具 圖表庫 功能請求 部落格 & 新聞 常見問題 幫助 & 維基 推特
個人檔案 個人檔案設定 帳戶和帳單 我的事件處理號碼 聯絡客服 發表的想法 粉絲 正在關注 私人訊息 在線聊天 登出