The Supertrend Ninja - Clean signalled a bearish trend on the 4th of March. Price dumped 8.68% afterwards.
Currently price bounced on an orderblock at 37,137 USDT. The price is currently in the Ichimoku cloud , which means indecision. If we look a few days ahead, the cloud is green, which shows bullishness. Then again the the Conversion (blue) line made a bearish cross with the Base (red) line, which is a bearish signal. This supports the indecision theory. Price is currently finding resistance around 39,000-39,600. Volume is going down, which means an aggressive move is coming.
It's very possible that the price will go up from here. The best chance for BTC to break up is through twists of a bearish to bullish (or the other way around) cloud. You see this happened on 28th Febr at 9:00u. Where the price slipped through the twist of the clouds. It might happen now as well.
I see a bullish divergence on the Constance Brown RSI . RSI itself right now is in a bearish / range bound levels. Supports and Resistances are highlighted as grey blocks.
Breaking down here means we can go to 36,300 USDT. Claiming 39,600 USDT means 41,500 USDT is the next target.
Conclusion: It's wise to remain cautious at these price levels, if you're a trend trader.
Thank you for reading.
Namasté 🙏
Disclaimer: Ideas are for entertainment purposes only. Not financial advice. Your own due diligence is highly advised before entering trades. Past performance is no guarantee of future returns.
Currently price bounced on an orderblock at 37,137 USDT. The price is currently in the Ichimoku cloud , which means indecision. If we look a few days ahead, the cloud is green, which shows bullishness. Then again the the Conversion (blue) line made a bearish cross with the Base (red) line, which is a bearish signal. This supports the indecision theory. Price is currently finding resistance around 39,000-39,600. Volume is going down, which means an aggressive move is coming.
It's very possible that the price will go up from here. The best chance for BTC to break up is through twists of a bearish to bullish (or the other way around) cloud. You see this happened on 28th Febr at 9:00u. Where the price slipped through the twist of the clouds. It might happen now as well.
I see a bullish divergence on the Constance Brown RSI . RSI itself right now is in a bearish / range bound levels. Supports and Resistances are highlighted as grey blocks.
Breaking down here means we can go to 36,300 USDT. Claiming 39,600 USDT means 41,500 USDT is the next target.
Conclusion: It's wise to remain cautious at these price levels, if you're a trend trader.
Thank you for reading.
Namasté 🙏
Disclaimer: Ideas are for entertainment purposes only. Not financial advice. Your own due diligence is highly advised before entering trades. Past performance is no guarantee of future returns.
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