BTC - still correcting IMO
BTC - on its way down per yesterday's analysis. We had bullish divergence on the 1 hour which led to the current bounce however we have yet to see it on the 4 hour RSI (and typically we do before a bounce is confirmed). I still think we have further down to go and also think we need a stronger correction to the confluence of fibs and trendlines (C) to allow momentum to build to take us back up and through resistance at 11700. +ive DMI has turned up but ADX (trend strength) is yet to match it.
Shorter timeframes - Pushing on the 15 min ichi cloud, RSI generally too high to sustain this bounce, red candles still larger than green and buy volume still isn't there. For me most indicators are still pointing towards a further correction. In support we simply have the 100% pitchfork fib running from 6k through A to present - lets see if it holds.
Shorter timeframes - Pushing on the 15 min ichi cloud, RSI generally too high to sustain this bounce, red candles still larger than green and buy volume still isn't there. For me most indicators are still pointing towards a further correction. In support we simply have the 100% pitchfork fib running from 6k through A to present - lets see if it holds.
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