BTC to USD is near the bottom of the channel that it has been trading in for a short time now since the long downtrend/bear market. Just like the larger channel I posted when we were going down in the first part of the year, there is also an inner channel (blue) inside the main channel (orange). If we look at the MFi and RSI at the bottom we can see that it is lower, along with the location of the current price in the channel we could see a bounce off the bottom orange line of the major channel or we are going to go up until overbought. While it could go sideways, BB (not turned on) shows in the one hour that the bands are getting clower to the candels indicating a possibable break one way or the other.
After the run up (seen all the green candels in a row) and now the bounce off the bottom channel where we are now, tells me -> I am going to look for the price to go up and not break the trend. As always we all could be wrong at any time and anything can happen. But the TA and pattens tell me to look for a bounce up and a possibable test of the 10,000 (if we make it on next test, time will tell.)
This channel comes right off of the breakout from the huge downtrend channel we had earlier in the year. This is the channel I will be looking at until it Breaks and stays out of the channel, letting me know that it is not a bull/bear trap. Buy thoes bounces and trade around when the top of the channel slows down.
Also please note I use Heikin Ashi instead of regular candels along with RSI, MFI, BB, and Vol. Trade at your own risk and this is my personal take on it.
After the run up (seen all the green candels in a row) and now the bounce off the bottom channel where we are now, tells me -> I am going to look for the price to go up and not break the trend. As always we all could be wrong at any time and anything can happen. But the TA and pattens tell me to look for a bounce up and a possibable test of the 10,000 (if we make it on next test, time will tell.)
This channel comes right off of the breakout from the huge downtrend channel we had earlier in the year. This is the channel I will be looking at until it Breaks and stays out of the channel, letting me know that it is not a bull/bear trap. Buy thoes bounces and trade around when the top of the channel slows down.
Also please note I use Heikin Ashi instead of regular candels along with RSI, MFI, BB, and Vol. Trade at your own risk and this is my personal take on it.