Sub Daily I am neutral. Daily I am definitely leaning bullish.
Analysis:
In most of these downtrends with BTC you see several triangle consolidations, and they become more visible with the Heikin Ashi. Right now we are breaking up out of one.
Moving Averages:
On my 8HR Heikin Ashi I have translated 50+200 Daily SMAs as well as 50+200 4HR EMAs.
All MAs are consolidating. The 50 EMA could create a nice rejection off the 200 EMA indicating bullish movement.
The Daily 50 SMA was pressed, possibly indicating a reversal.
Pivots/Fibs/Support/Resistance:
Monthly Pivot was breached but only recently. Weekly S2 was tested and held well.
Previous resistance zone 6850 and local Fib might be turned support now.
TD Sequential:
Daily had a fairly gentle decline, and 8 HR Heikin Ashi put out several bullish indicators recently.
Analysis:
In most of these downtrends with BTC you see several triangle consolidations, and they become more visible with the Heikin Ashi. Right now we are breaking up out of one.
Moving Averages:
On my 8HR Heikin Ashi I have translated 50+200 Daily SMAs as well as 50+200 4HR EMAs.
All MAs are consolidating. The 50 EMA could create a nice rejection off the 200 EMA indicating bullish movement.
The Daily 50 SMA was pressed, possibly indicating a reversal.
Pivots/Fibs/Support/Resistance:
Monthly Pivot was breached but only recently. Weekly S2 was tested and held well.
Previous resistance zone 6850 and local Fib might be turned support now.
TD Sequential:
Daily had a fairly gentle decline, and 8 HR Heikin Ashi put out several bullish indicators recently.
Comment:
4 HR MAC Blast is getting schizophrenic but we might stop getting false indicators shortly. 4 HR MFI showing some Bullish Divergences also.
Trade active:
Entering a small position here.
Volume is low and declining with these drops indicating bearishness is weakening.
TD Sequential and MFI are showing bullish divergences on the daily, but are yet to be confirmed.
Volume is low and declining with these drops indicating bearishness is weakening.
TD Sequential and MFI are showing bullish divergences on the daily, but are yet to be confirmed.
Order cancelled:
waiting for this desc triangle on daily to break up or down...