Hello All,
On weekly TF, BTC is still maintaining its bullish trend and managed to close 1st green candle after 4 red candles. It is still maintaining above the 21EMA (yellow line), and also managed to take out the high of previous candle.
On weekly Stochs. We see them coming down pretty strong but this could also be a bullish re-set on this indicator. If they keep coming down then we have some very nice support lines to keep eye on for a potential bounce.
BTC also closed its 2D yesterday, and although it closed above 21EMA the bull volume was not very impressive, also to note is we now see Death cross on 2D TF between 10SMA and 21EMA (we need one more close to confirm this cross). Bulls need to step in soon and make a push higher to negate this cross.
Finally coming to Daily TF, here I am watching these horizontal lines (First chart above) for short-term and mid-term trading ranges. Break on either side will most likely result in a multi 1000$ move.
I am expecting that move to happen in this week because the BollingerBand width is approaching the ‘0’ value. Which indicates very low volatility and squeezing of BBs.
I am still expecting a bullish break from this range and to see my reasons for that do check out my previous long-term analysis on BTC. Liked below.
Happy and safe trading…
Chao…
On weekly TF, BTC is still maintaining its bullish trend and managed to close 1st green candle after 4 red candles. It is still maintaining above the 21EMA (yellow line), and also managed to take out the high of previous candle.
On weekly Stochs. We see them coming down pretty strong but this could also be a bullish re-set on this indicator. If they keep coming down then we have some very nice support lines to keep eye on for a potential bounce.
BTC also closed its 2D yesterday, and although it closed above 21EMA the bull volume was not very impressive, also to note is we now see Death cross on 2D TF between 10SMA and 21EMA (we need one more close to confirm this cross). Bulls need to step in soon and make a push higher to negate this cross.
Finally coming to Daily TF, here I am watching these horizontal lines (First chart above) for short-term and mid-term trading ranges. Break on either side will most likely result in a multi 1000$ move.
I am expecting that move to happen in this week because the BollingerBand width is approaching the ‘0’ value. Which indicates very low volatility and squeezing of BBs.
I am still expecting a bullish break from this range and to see my reasons for that do check out my previous long-term analysis on BTC. Liked below.
Happy and safe trading…
Chao…
