Looking at my 1 hour chart and my custom Indicators... it appears that we might be heading for a trend reversal. I figure that in the next month or so.... BTC will be going up in value.
FYI
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( I have custom coded 1D and 4HR upper time frame moving averages, the MACD is based on the 4HR MACD, and I have made my own version of the TEMA Upper time frame OPEN/CLOSE cross over indicator/strategy)
You can see that back in the first week of August, (August 7th) my 4hr LSMA, HULL and SMA moving averages crossed from PURPLE over RED over Light BLUE ==> Light BLUE over RED over PURPLE. You will see the day this happened by the thin red arrow pointing down on my chart.
Looking at today's chart, we can see that those same three moving averages are now all jumbled up and looking to reverse their order. Going from Light BLUE over RED over PURPLE ==> PURPLE over RED over Light BLUE. Nothing has been carved in stone yet but this looks like the start of a new trend reversal, to the up side.
I think that by next year, the crossovers will have happened and a new up trend will be established. Otherwise... be careful for now. The trend is still technically downwards.... but we all know that the MOON is on the horizon!!!
RonN
FYI
===
( I have custom coded 1D and 4HR upper time frame moving averages, the MACD is based on the 4HR MACD, and I have made my own version of the TEMA Upper time frame OPEN/CLOSE cross over indicator/strategy)
You can see that back in the first week of August, (August 7th) my 4hr LSMA, HULL and SMA moving averages crossed from PURPLE over RED over Light BLUE ==> Light BLUE over RED over PURPLE. You will see the day this happened by the thin red arrow pointing down on my chart.
Looking at today's chart, we can see that those same three moving averages are now all jumbled up and looking to reverse their order. Going from Light BLUE over RED over PURPLE ==> PURPLE over RED over Light BLUE. Nothing has been carved in stone yet but this looks like the start of a new trend reversal, to the up side.
I think that by next year, the crossovers will have happened and a new up trend will be established. Otherwise... be careful for now. The trend is still technically downwards.... but we all know that the MOON is on the horizon!!!
RonN