Have just analysed three sections since Decemebr 2017 high when Signal line was below zero (brown histogram) and have marked them out in three zones in the chart above A,B,C.
I've extended the third zone to end of July but don't really know when Signal line will cross over into positive territory again.
Here's what has made me think different.
I start off with the daily time frame and move into the 4H time frame where there could be potential upside. But it's not going to be easy.
I can't see the future. If it goes north who's to say it's not a dead-cat bounce? ;) :)
1. BTC futures ends on 18th of July.
2. STO RSI Bottomed in ETH as you can see from the graph just tourned.
3. RSI around 40, same like it was by the quick runup in may, 2013.
Its not a financial advice, i place my bets on alts till BTC hits 9.5k (mid august).
Please share your thoughts on it!
My view BTCUSD
- Structure: Downtrend
- Present: Sideway , the price moves in range !
- SHS pattern forming?
- Above support W1 and below resistance D1.
- Tendency: Downward
- Test pivot range ( Double top and bottom)
I've analysed the Histogam (yellow), MACD (blue), and Signal (brown). I've broken them up to show them as three histograms. I've colour coded all the highs, trough's, and zero crossovers. You will notice what happens when the signal histogram in brown which is below zero starts off on a fresh downward path at the same time as the histogram in yellow drops below...
Short term, a month or more of downside or sideways action before a trend reversal come October.
Trend indicators shown here, ADX, MACD, and SAR, all showing that the trend is still bearish. Until i see a crossover on the weekly macd, or the ADX move above 20, then i believe we are going to see further downside before any change in the current bearish trend.
risky play, but worth the shot, price hanging on the monthly pivot, selling pressure on obvosc diminishing, rsi oversold. Playable bounce imo off this daily block into breaker above
p.s. this is bittrex chart, adjust the difference between bittrex and bitmex premium and just add it, levels the same
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The industry sentiment remains...
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This brings me to a core concept of technical analysis. The point of TA is to make the...