MisterCatt

BTC/USD Price Update 16 June 2019

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar



1 day timeframe.
After BTC/USD broke the previous down trendline resistance around 7900, BTC/USD is challenge the resistance at previous high (8930) and looks like it still struggle to get above that level. bullish momentum indeed while if it's managed to close above that level, as long the price action can held the recent trendline i'm bullish for this price movement.
* important area : It's a deciding point where if the price can switch from bullish to bearish and vice versa. in order to be bullish at the current price action, BTC/USD must closes above the important area to get a confirmation to be bullish . conversely, if it fail to brake that level, i expect a slight retracement with a double top pattern also potentially will be form. also included for the recent up trend (white)



If the price action do managed to close above 8930. My previous chart regarding weekly evening star is invalidated. here's the update regarding the weekly evening star .







Indicators :
DMI : DI+ is managed to get above DI- which is a bullish sign for now. ADX remain weak as it still below 25 level.
MACD : macd line and signal line above negative level (above zero) which is price is moving in bullish area, while buyer histogram is still in buyer momentum and still continue building up.
volume ma relative weak for now.


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