Here we can see our price has hit some support at the 2/1 Gann line and our stochastic is at medium threshold, when historically it has been at the upper threshold, this is great signal for a price rise. We also see some bullish confirmation right where the support line is hit. This is compounded by the fact that our 20 and 50W MA's are very close to crossing, which is a excellent signal for an uptrend because the last time they were this close was around April. I foresee this 20W MA wanting to move farther away from the 50W MA and the only way for this to happen is for price to go up up up and away.
Commentaire:
Looks like we have a death cross between our MA, signaling a downward trend. It appears this indicator took precedence over the ones listed above, which is why price is dropping. My gut was telling me the MA's would repel each other once they got close, but instead they crossed, bad news for BTC.