Bitcoin on the 12 hour is forming an uptrend, we have a confirmed higher high and higher low. This uptrend will turn into consolidation if we trade below the yellow horizontal at 8094, which will most likely retest the bottom green liquid zone. We have had 3 tests to the liquid zone, buying on a 4th test is unlikely to hold as support. Currently, we are using the red 10 SMA and yellow 21 EMA as resistance. We also have a 12 hour death cross, and we have rejected on the retest of the 55 EMA, confirming the death cross' strength to the downside.
12 hour stochastics broke the diagonal support and are trending down, but weak to the downside in current posturing. Possible short entry upon next bearish stochastic crossover.
12 hour RSI is above the EMA and out of bearish control zone. Remains to be neutral at this time. No divergence present
My daily and weekly trend analysis here:
12 hour stochastics broke the diagonal support and are trending down, but weak to the downside in current posturing. Possible short entry upon next bearish stochastic crossover.
12 hour RSI is above the EMA and out of bearish control zone. Remains to be neutral at this time. No divergence present
My daily and weekly trend analysis here:
