BTCUSD is nearing the end of the big triangle that it has formed. Breakout should be upwards because:
- Triangles tend to break to the upside if the trend is bullish (it has been since December 2018).
- Correction has been going on on lowering volume (bullish sign).
- MFI was oversold on the daily timeframe.
- Fisher transform has reached an area where 90% of the times BTC reverses.
- Ease of movement is not confirming a downward move.
- Triangles tend to break to the upside if the trend is bullish (it has been since December 2018).
- Correction has been going on on lowering volume (bullish sign).
- MFI was oversold on the daily timeframe.
- Fisher transform has reached an area where 90% of the times BTC reverses.
- Ease of movement is not confirming a downward move.
Commentaire:
If we close below than $8332 today the daily candle this could get ugly and it may go a little lower before going back up. I don't think this is going lower than 7k, lot of people are calling for 3k again but I don't believe that to be the case. If we close the daily above $8332 then this could turn into a bart move and we can skyrocket up to $11k.
Commentaire:
Still looks like an inverted bart move. Seems like this whole thing is a big bear trap. Volume has been extremely low this whole month.
Commentaire:
After the failed upward breakout, as I said I didn't think it would go lower than 7k but it would blast back to 11k. pretty close despite the breakdown. still very bullish on BTC. Only way is up.