Hello dear traders. Hope you're fine out there! Here's my thoughts on BTC and the path that might lie ahead! We're in the short-term group of time frames.
90Min:
The white energy above the 50 level has proven to be feeble, and with the green line making contact with the red RSI while descending, downward pressure is confirmed. Plus, with the blue LSMA exploring the levels below 50, B bands could expand and downward pressure could intensify.
3H:
The blue LSMA and the red RSI have made contact below 50, while descending. The white energy and the green line are plunging deeper, indicating more downward pressure. They might ease off a bit when they reach the bottom; however, the green line could extricate itself and explore the lows while the white energy remains below 50 and that extends the downward pressure period.
6H:
The indicators in this timeframe beckon more downward pressure. The red RSI has made contact with the green line while it was declining steeply. Moreover, the red RSI is about to land on 50 and reach lower levels. With the blue LSMA below 50, that could unleash a new red wave.
12H:
In this timeframe, we are beginning to feel downward pressure. The green line has experienced an abortive attempt to rise above 50 and made contact with the red RSI and blue LSMA. Soon the white energy will move lower and with the green line plunging deeper, the red RSI and blue LSMA might decide to turn their heads down.
90Min:
The white energy above the 50 level has proven to be feeble, and with the green line making contact with the red RSI while descending, downward pressure is confirmed. Plus, with the blue LSMA exploring the levels below 50, B bands could expand and downward pressure could intensify.
3H:
The blue LSMA and the red RSI have made contact below 50, while descending. The white energy and the green line are plunging deeper, indicating more downward pressure. They might ease off a bit when they reach the bottom; however, the green line could extricate itself and explore the lows while the white energy remains below 50 and that extends the downward pressure period.
6H:
The indicators in this timeframe beckon more downward pressure. The red RSI has made contact with the green line while it was declining steeply. Moreover, the red RSI is about to land on 50 and reach lower levels. With the blue LSMA below 50, that could unleash a new red wave.
12H:
In this timeframe, we are beginning to feel downward pressure. The green line has experienced an abortive attempt to rise above 50 and made contact with the red RSI and blue LSMA. Soon the white energy will move lower and with the green line plunging deeper, the red RSI and blue LSMA might decide to turn their heads down.