Hey guys,
BTC Daily is not really selling me on this oversold daily bounce, Volume is (has so far) dropping off sharply and we are nearing a upper trendline resistance.
Cipher B is telling us that Money Flow is still thick in the red, RSI is just coming up to 40 (Down trends it ranges between 30-50 a lot), and STOCHASTIC is Oversold at 95 so I am not convinced we are breaking through just yet.
If we take a look at the momentum waves we printed a large anchor wave, but I would like to see 2 things from here.
1. Money Flow (MF) shifting towards the zeroline.
2. A trigger wave forming with a green dot below the zero line.
As of now. I am still looking for a dip back down with either a lower low or a double bottom before we break out of this falling wedge.
Not Financial advice, Just my Opinion.
But you guys shouldn't be trading unless you know what you are doing.
Take care crypto family.
BTC Daily is not really selling me on this oversold daily bounce, Volume is (has so far) dropping off sharply and we are nearing a upper trendline resistance.
Cipher B is telling us that Money Flow is still thick in the red, RSI is just coming up to 40 (Down trends it ranges between 30-50 a lot), and STOCHASTIC is Oversold at 95 so I am not convinced we are breaking through just yet.
If we take a look at the momentum waves we printed a large anchor wave, but I would like to see 2 things from here.
1. Money Flow (MF) shifting towards the zeroline.
2. A trigger wave forming with a green dot below the zero line.
As of now. I am still looking for a dip back down with either a lower low or a double bottom before we break out of this falling wedge.
Not Financial advice, Just my Opinion.
But you guys shouldn't be trading unless you know what you are doing.
Take care crypto family.