WEEKLY
Upward move of last 6 months bounced off prior resistance around 12000. Could see a retest of this level. Price recently found support around 10000 and at the channel centre between the 2 MAs.
Conversely, 10000 needs to break if a reversal from 12000 on this timeframe is to be called and price would need several closes below the MAs to confirm this.
ADX is still trending up. MACD histogram has fallen to the centreline but not crossed.
Seasonax detrended seasonality data suggests BTC is currently weak but only until October then it typically rallies to the end of the year.
DAILY
Above 200 MA. Retraced to 61 Fib then dropped again but failed to break down through 10000 again this week. Currently towards recent resistance range. Weekly uptrend could be resuming.
Stochastic buy signal above oversold zone just occurred. ADX trendless so long entry slightly aggressive perhaps. MACD Histogram has stayed bullish.
In the belief higher timeframe bullishness is resuming we will buy 'Friday's close' or thereabouts.
Enter LONG at E: 10689, S: 10078, T: 12290
ALT
Alternatively, if price drops through 10000 this entry suggestion would be void.
Upward move of last 6 months bounced off prior resistance around 12000. Could see a retest of this level. Price recently found support around 10000 and at the channel centre between the 2 MAs.
Conversely, 10000 needs to break if a reversal from 12000 on this timeframe is to be called and price would need several closes below the MAs to confirm this.
ADX is still trending up. MACD histogram has fallen to the centreline but not crossed.
Seasonax detrended seasonality data suggests BTC is currently weak but only until October then it typically rallies to the end of the year.
DAILY
Above 200 MA. Retraced to 61 Fib then dropped again but failed to break down through 10000 again this week. Currently towards recent resistance range. Weekly uptrend could be resuming.
Stochastic buy signal above oversold zone just occurred. ADX trendless so long entry slightly aggressive perhaps. MACD Histogram has stayed bullish.
In the belief higher timeframe bullishness is resuming we will buy 'Friday's close' or thereabouts.
Enter LONG at E: 10689, S: 10078, T: 12290
ALT
Alternatively, if price drops through 10000 this entry suggestion would be void.
Comment:
Hit target 21/10, +2.5R