BTC Looking at the TD indicator and multiple support lines we are in a crucial stage. TD is showing signs that we should bounce, either a 1 to 4 candle correction and more down or a completely new wave up to 9.
You can see here yesterday was the 9 candle and today a 13 candle, both signs for some kind of bounce or full blow reversal, which one we have to wait and see.
Besides that we went to the next fib line of the target box (the yellow line) and bounced from there. now are are stuck under the light blue trendline (in something that starts looking like a small bullflag, just had a nice breakout while i was typing this message). yo can see i have a light blue and a dark blue line. both are trendlines coming down from 20k, the light blue is on top of the fat part of the candle around 17k and dark blue on top of the wick if that same candle. Its interesting to see sometimes price reacts to the light blue, sometimes to the dark blue. right now we are also at the red line which i added only recently. its the long term hyperwave support line. what is hyperwave? please go to youtube and search hyperwave. In short we want to close above that red line on a weekly or its not looking great according to hyperwave analysis.
I am pretty neutral now. Todays daily candle should make some gains closing above the blue trendline and better close to 9k or higher for me to start feeling more bullish. right now we can go either way, but the longer we stay around 8k the more chance we are breaking down.
Quick look at log scale. you see ideally we want a close above the blue trendline which we broke, closing above there just like after we broke it at 6k could mean we just retested that line and succeeded if the next few daily candles are some nice green ones getting us closer to the dark blue trendline around 10,5k. The white setup in log chart is something i would like to see happen but untill we break some resistances to the upside its more of a wish. If we break those resistances though this is a possible path we can take.
You can see here yesterday was the 9 candle and today a 13 candle, both signs for some kind of bounce or full blow reversal, which one we have to wait and see.
Besides that we went to the next fib line of the target box (the yellow line) and bounced from there. now are are stuck under the light blue trendline (in something that starts looking like a small bullflag, just had a nice breakout while i was typing this message). yo can see i have a light blue and a dark blue line. both are trendlines coming down from 20k, the light blue is on top of the fat part of the candle around 17k and dark blue on top of the wick if that same candle. Its interesting to see sometimes price reacts to the light blue, sometimes to the dark blue. right now we are also at the red line which i added only recently. its the long term hyperwave support line. what is hyperwave? please go to youtube and search hyperwave. In short we want to close above that red line on a weekly or its not looking great according to hyperwave analysis.
I am pretty neutral now. Todays daily candle should make some gains closing above the blue trendline and better close to 9k or higher for me to start feeling more bullish. right now we can go either way, but the longer we stay around 8k the more chance we are breaking down.
Quick look at log scale. you see ideally we want a close above the blue trendline which we broke, closing above there just like after we broke it at 6k could mean we just retested that line and succeeded if the next few daily candles are some nice green ones getting us closer to the dark blue trendline around 10,5k. The white setup in log chart is something i would like to see happen but untill we break some resistances to the upside its more of a wish. If we break those resistances though this is a possible path we can take.
Comment:
decent bounce from long term green support line. perfect g20 news timing adding fuel to this bounce need to break out from long term blue downtrend next