Hello, dear subscribers and TradingView readers! Our traders team has prepared for you daily bitcoin technical analysis.
Yesterday we wrote that there is a chance of going both ways, but there was a small probability of falling. Now the situation is exactly the opposite - a small preponderance in the direction of growth, further I'll explain in detail.
During the night, we did not see a way out to one of the parties, which tells us that we are expanding the triangle, and the “bearish rectangle” has completely failed, so there are more chances to go up now. So far, only 2 points indicate a possible fall: 1) StochRSI at the top, 2) A divergence in price and volume has been detected. But these two points are simple enough to explain.
1 - We found a similar moment on September 8-10, when, after a sharp fall, a triangle was formed (the graph on the left), which is very similar to today (the graph on the right). Actually, at the end of the triangle in September, StochRSI was quite high, but at the same time the price still went up.
2 - We are moving in a triangle, and so in it, decrease in volume is normal, but it is not means we are moving to exit. In addition, exactly the same situation with the divergence was in September, but with that triangle, we went up perfectly.
In total. What we have listed above is not an exact long, these are just moments why the way up is now a little more probably, but the way down is also apparently. Therefore, if you don't want and are not accustomed to risk, then it is better not to enter the position.
Yesterday we wrote that there is a chance of going both ways, but there was a small probability of falling. Now the situation is exactly the opposite - a small preponderance in the direction of growth, further I'll explain in detail.
During the night, we did not see a way out to one of the parties, which tells us that we are expanding the triangle, and the “bearish rectangle” has completely failed, so there are more chances to go up now. So far, only 2 points indicate a possible fall: 1) StochRSI at the top, 2) A divergence in price and volume has been detected. But these two points are simple enough to explain.
1 - We found a similar moment on September 8-10, when, after a sharp fall, a triangle was formed (the graph on the left), which is very similar to today (the graph on the right). Actually, at the end of the triangle in September, StochRSI was quite high, but at the same time the price still went up.
2 - We are moving in a triangle, and so in it, decrease in volume is normal, but it is not means we are moving to exit. In addition, exactly the same situation with the divergence was in September, but with that triangle, we went up perfectly.
In total. What we have listed above is not an exact long, these are just moments why the way up is now a little more probably, but the way down is also apparently. Therefore, if you don't want and are not accustomed to risk, then it is better not to enter the position.