Weekly chart, P.A suggest rejection into monthly resistance. 2 inverted hammers on above average volume.
daily chart, RSI broke major 60 days support. Also price below a defining trend line indicating bears taking control.
240min chart, broke a 3 day trend-line and closed below weekly resistance. bears in control.
60min chart, suggest sell upon break of 1486.7 and...
daily chart P.A suggest sellers are into the market, reflected by rising volume on the rejection into resistance.
240min chart RSI suggest bullish divergence, which already reacted to RSI resistance.
60min chart S/R suggest look to join the sellers upon the break of 2993-2990. if it holds then bulls will go for another run up.
1524 is a key number for this week. Weekly candle close above indicates the bulls are still eager and correction will be short lived. Weekly candle close below indicates supply is stepping in and a correction all the way down to the 1460 would be expected. All in all Gold is in a strong bull market. a fundamental catalyst of reduced economic uncertainity would be...
BTC bears have lost control for this round.
BTC bulls step in to take the wheel with the attempt to tag and hold inside the bullish channel (green lines) for an upside confirmed reversal.
200 EMA is first key resistance to the upside.
Failure of lifting price by bulls will take us back to the bearish scenario with extra confirmation.
Out of the market until...
BTC stepping into the hungry bears(monthly,weekly and daily) supply, clearing this supply means it would be highly unlikely to see a major BTC pullback to below 10 in the coming week. Consolidating above 11500$ will be the ultimate sign that BTC bulls are in control. I would be careful shorting except for an over whelming rejection at the highlighted supply level..
Scaling in throughout the buy zone with nice confluence of technical factors, a 4 hour bullish candle close would be enough to confirm the buy signal. same price level confirmed by the pair BCHEUR. BCHBTC ratio pairs indicating BCH might be soon getting ready to do one of its classic pops in the coming weeks. Buy pullbacks, trend continuation strategies recommend.
A daily close above R1 will signal the bulls are in control and the bull run scenario is gaining more momentum. Caution buying pulls packs as the is the most choppy price level of BTCUSD. Positions in profits are advised to de-risk and handle the FOMO. RSI is in the overbought region since the last bull run. THERE ARE A LOT OF SHORTS TO WORK through BTC wont spike...
Bulls riding the uptrend from the 5000$ mark have mainly booked profits and abandoned the run as the volume profile indicates. Price is ranging trying to find new demand but the price actin shows that there is not enough demand in this range for a breakaway up yet. RSI is trending downwards indicating withdrawal of buyers. potential Elliot Wave correction in play...