For my 100 TradingView post, i though i'd do a nice in-depth Technical Analysis about what BTC needs to do using the various TA tools i use, so i hope you all find this helpful and informative:
If we look at the descending Pitchfork (A,B,C), BTC has found strong resistance at the Pitchfork Median Line. BTC 110% needs to CLOSE a daily candle above this level and turn it into strong support.
BTC is still below its 200EMA. BTC 110% needs to CLOSE a daily candle above this level and turn it into strong support.
BTC is in the Bearish Zone of the Ichimoku Cloud.
The Ichimoku Cloud Lagging Span (Chikou Span) is indicating momentum is sideways with a slope downwards. Note that the Lagging Span (Chikou Span) has risen and is near the Leading Span B (Senkou Span B) cloud resistance.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating short-term momentum is sideways at the moment.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating mid-term momentum is sideways at the moment.
Note that the Price is under both the Ichimoku Cloud Conversion Line (Tenakn Sen) and the Base Line (Kijun Sen) indicator levels. Note that the Base Line (Kijun Sen) is on top of the Conversion Line (Tenakn Sen). BTC 110% needs to CLOSE a daily candle above both these level and turn both into strong support. We also need the Conversion Line (Tenakn Sen) to cross back above the Base Line (Kijun Sen)
Note that we have had a Kumo (Cloud) Twist where the Leading Span A (Senkou Span A) & Leading Span B (Senkou Span B) have reversed top and bottom turning the cloud red indicating bearish confirmation.
Note that volume has been getting lower over the last 4 days and the volume is below its Volume 20 Period MA.
The Average Directional Index/Directional Movement System (ADX DI) is indicating a strong trend with the ADX (Yellow Line) at 51.13 above its 9 Period EMA (White Line) at 44.32. The -DI (Red Line) is at 30.04 still above its +DI (Green Line) which is at 6.51. Note that the -DI (Red Line) has dropped and is pointing downwards and the +DI (Green Line) has risen but is now pointing slightly downwards. This indicates that Negative momentum has dropped but positive momentum is still weak.
The Chaikin Money Flow (CMF) is indicating BTC is still in the Accumulation Zone of with the CMF Line (Green Line) at 0.01. BTC needs to stay in the accumulation zone if any attempt is to be made at crossing the Pitchfork Median Line.
If you are waiting for a real 110% confirmation of a Daily Chart reversal to the uptrend then you would need to wait for BTC to close a daily candle above the Ichimoku Cloud Leading Span A (Senkou Span A) cloud resistance and also back above the Pitchfork Hagopian Line tuning these levels into strong support. This would mean however that you would lose any potential rise & profits so another way of confirmation is to split your sum amount for one trade & place it in stages to place a number of trades:
Stage 1 would be closing a daily candle strongly above the Pitchfork Median Line.
Stage 2 would be closing a daily candle strongly above the 200EMA.
Stage 3 would be closing a daily candle strongly above the Conversion Line (Tenkan Sen).
Stage 4 would be closing a daily candle strongly above the Leading Span B (Senkou Span B).
Stage 5 would be closing a daily candle strongly above the Base Line (Kijun Sen).
Stage 6 would be closing a daily candle strongly above the Leading Span A (Senkou Span A).
Stage 7 would be closing a daily candle strongly above the Pitchfork Hagopian Line.
I hope analysis and 'various stages' idea is helpful with your Trading & Hodl-ing.
CMF
ADX DI
If we look at the descending Pitchfork (A,B,C), BTC has found strong resistance at the Pitchfork Median Line. BTC 110% needs to CLOSE a daily candle above this level and turn it into strong support.
BTC is still below its 200EMA. BTC 110% needs to CLOSE a daily candle above this level and turn it into strong support.
BTC is in the Bearish Zone of the Ichimoku Cloud.
The Ichimoku Cloud Lagging Span (Chikou Span) is indicating momentum is sideways with a slope downwards. Note that the Lagging Span (Chikou Span) has risen and is near the Leading Span B (Senkou Span B) cloud resistance.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating short-term momentum is sideways at the moment.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating mid-term momentum is sideways at the moment.
Note that the Price is under both the Ichimoku Cloud Conversion Line (Tenakn Sen) and the Base Line (Kijun Sen) indicator levels. Note that the Base Line (Kijun Sen) is on top of the Conversion Line (Tenakn Sen). BTC 110% needs to CLOSE a daily candle above both these level and turn both into strong support. We also need the Conversion Line (Tenakn Sen) to cross back above the Base Line (Kijun Sen)
Note that we have had a Kumo (Cloud) Twist where the Leading Span A (Senkou Span A) & Leading Span B (Senkou Span B) have reversed top and bottom turning the cloud red indicating bearish confirmation.
Note that volume has been getting lower over the last 4 days and the volume is below its Volume 20 Period MA.
The Average Directional Index/Directional Movement System (ADX DI) is indicating a strong trend with the ADX (Yellow Line) at 51.13 above its 9 Period EMA (White Line) at 44.32. The -DI (Red Line) is at 30.04 still above its +DI (Green Line) which is at 6.51. Note that the -DI (Red Line) has dropped and is pointing downwards and the +DI (Green Line) has risen but is now pointing slightly downwards. This indicates that Negative momentum has dropped but positive momentum is still weak.
The Chaikin Money Flow (CMF) is indicating BTC is still in the Accumulation Zone of with the CMF Line (Green Line) at 0.01. BTC needs to stay in the accumulation zone if any attempt is to be made at crossing the Pitchfork Median Line.
If you are waiting for a real 110% confirmation of a Daily Chart reversal to the uptrend then you would need to wait for BTC to close a daily candle above the Ichimoku Cloud Leading Span A (Senkou Span A) cloud resistance and also back above the Pitchfork Hagopian Line tuning these levels into strong support. This would mean however that you would lose any potential rise & profits so another way of confirmation is to split your sum amount for one trade & place it in stages to place a number of trades:
Stage 1 would be closing a daily candle strongly above the Pitchfork Median Line.
Stage 2 would be closing a daily candle strongly above the 200EMA.
Stage 3 would be closing a daily candle strongly above the Conversion Line (Tenkan Sen).
Stage 4 would be closing a daily candle strongly above the Leading Span B (Senkou Span B).
Stage 5 would be closing a daily candle strongly above the Base Line (Kijun Sen).
Stage 6 would be closing a daily candle strongly above the Leading Span A (Senkou Span A).
Stage 7 would be closing a daily candle strongly above the Pitchfork Hagopian Line.
I hope analysis and 'various stages' idea is helpful with your Trading & Hodl-ing.
CMF
ADX DI
Comment:
Here is a look at the Ichimoku Cloud on the 1 Day, 2 Day, 3 Day and 4 Day timeframes. It can be used to enable you to compare where the price is in relation to the various indicators on the various timeframe & to check & see if there is any cascading affect or possibility of the price crossing into the Bearish Zone on these various higher timeframes.