Although in the short term I believe that $BTC will take a small dip, it's becoming more and more clear that we're starting to make a reversal.
Parameters:
The white histogram in the back is BFX Longs vs. Shorts. Useful to tell market sentiment.
All indicator arguments are shown
RSI ticking up from being oversold, MACD is just about to cross, and the symmetrical triangle is near completion.
Keep in mind this is long; I am certain that we will have more one dip before breakout. Given the fact that the 4H chart is showing signs of an incoming dip, I believe we will continue consolidating into the triangle.
The huge increase in long positions on Bitfinex is a great indicator that traders believe the price will go up from here on out. I am hoping that we go sideways some more between the resistance lines; extreme market volatility by hitting the upper trend line too early in the triangle may shake weak hands out of the game.
Parameters:
The white histogram in the back is BFX Longs vs. Shorts. Useful to tell market sentiment.
All indicator arguments are shown
RSI ticking up from being oversold, MACD is just about to cross, and the symmetrical triangle is near completion.
Keep in mind this is long; I am certain that we will have more one dip before breakout. Given the fact that the 4H chart is showing signs of an incoming dip, I believe we will continue consolidating into the triangle.
The huge increase in long positions on Bitfinex is a great indicator that traders believe the price will go up from here on out. I am hoping that we go sideways some more between the resistance lines; extreme market volatility by hitting the upper trend line too early in the triangle may shake weak hands out of the game.
My published indicators: www.tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
