BTC Update

2022年2月14日

In this analysis we are going to take a look at the classical timeframes with a focus on the 4H chart.

So let's take the charts one by one and establish our findings:

The main 4h chart

- Price rejected multiple times on the descending trendline(red)
- Price supported by the ascending trendline(white) that also rejected the price multiple times
- Price inside the kumo cloud, and playing around the ichimoku conversion line
- Volume is low but slightly increasing while price action is staying flat
-Note that the price action is under the $43500 resistance line that is also confluencial with the top of the kumo cloud(Lead 1)
-Price is above the EMA 200 and also the bottom kumo/Lead2


The 15 min chart

- Price above the Kumo cloud in an upwards pointing pattern


The basic daily chart

- 0.618 will pose serious resistance in confluence with the $43500 resistance area.


-Wavetrends

We can observe a good ascending formation on the 4h Wavetrend with the mnoneyflow and VWAP going positive and the higher low formation.

-Funding

Funding rates are now slightly negative indicating possible inflow of longs, however the values are still small.


-Gameplan

We would advise not to open new longs until we manage to escape the local formation that is comprised of:
- Local 1hr Channel
- Top kumo cloud confluencial with Resistance area

So we will probably enter again once the resistance area is either broken straight or broken and retested. The area to look for is $44500