BTC MAY CONTINUE LOWER
The 30 minute chart shows a good bottom formation against the down sloping pitchfork. The prices are still contained by the sliding parallel line and hence the trend is still deemed to be down.
What is more important is that the RSI is forming a negative reversal pattern which suggests that the trend may still be down. The caveat for this view is a strong continuation higher in coming sessions. If that were to happen, then the negativity shown by the Rsi signal would be overcome and the breakout signal of the pitchfork will begin to take hold. The Laguerre Rsi is also in abit of ambivalent mode with possibilities of leaning either way.
Thus BTC futures is currently at a make or break point.
ckn
What is more important is that the RSI is forming a negative reversal pattern which suggests that the trend may still be down. The caveat for this view is a strong continuation higher in coming sessions. If that were to happen, then the negativity shown by the Rsi signal would be overcome and the breakout signal of the pitchfork will begin to take hold. The Laguerre Rsi is also in abit of ambivalent mode with possibilities of leaning either way.
Thus BTC futures is currently at a make or break point.
ckn
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