Wyckoff, Elliot Wave, Heikin Ashi, Fibs
Updated
BTCUSD Analysis
Harmonics:
- An AB=CD pattern seemed to be forming, but the ratios were not respected.
Elliot Wave:
- There is an Elliot Wave ABC correction that may be followed by an impulse.
Heikin Ashi:
- Bullish Trend.
Wyckoff Arsenal (The Wyckoff Method):
- Force vs Price Bullish Divergence;
- Technometer Clearly Oversold at 37.52;
- followed by a higher low at 40.24;
- and a small Bullish divergence with Price action.
Interested Target ares: 13618, 16618
Stop Loss level: 8960
______________________________________
Wyckoff Arsenal indicators:
- Optimism Pessimism Index Multi-Timeframe
- Force Index Multi-Timeframe
- Technometer Multi-Timeframe
- Momentum Multi-Timeframe
Harmonics:
- An AB=CD pattern seemed to be forming, but the ratios were not respected.
Elliot Wave:
- There is an Elliot Wave ABC correction that may be followed by an impulse.
Heikin Ashi:
- Bullish Trend.
Wyckoff Arsenal (The Wyckoff Method):
- Force vs Price Bullish Divergence;
- Technometer Clearly Oversold at 37.52;
- followed by a higher low at 40.24;
- and a small Bullish divergence with Price action.
Interested Target ares: 13618, 16618
Stop Loss level: 8960
______________________________________
Wyckoff Arsenal indicators:
- Optimism Pessimism Index Multi-Timeframe
- Force Index Multi-Timeframe
- Technometer Multi-Timeframe
- Momentum Multi-Timeframe
Trade active
Comment
Confirmed Hidden Bullish Divergence: OP or Volume down - Price upHowever, a failure to push higher may bring us to lower lows
Comment
Force & Tech are trending upwards.
Demand is coming into the market - OP starts to trend upwards as well.
It gives a sense of harmony.
Let's see how it goes.
Comment
here we go, a rally followed by harmonious indicatorsComment
preceded*Comment
So far, so good - everything keeps trending upwardsComment
The Technometer is Overbought at 49.78!Is it time to sell?
I don't think so. All the other indicators are still pointing upwards.
Although it is good to use the Technometer as a starting point of analysis, it is not ok to use it as a sole indication.
I'll be waiting for signs from all the indicators. Maybe we can find some divergences.
Comment
Current support and resistance levels highlightedResistance - 12000
Support - 11100-11500
Comment
We are now in a trading range. It may take a few days.Comment
The recent "decline" was not a breakdown. Bitcoin is still trading between the marked Support and Resistance levels.Right now, Bitcoin is just at the Support level.
The non-spoofing buy orders in the order book maintain this Support level.
The Volume Delta is increasing (this information may be observed better on the intra-day charts) - Buyers are absorbing the Sellers.
Subsequently, we can see the divergence between CVD and price: Price marked a lower low while CVD maintained its level.
The Technometer just passed its neutral level towards the oversold levels.
Comment
BTC is being sold into TetherUSD is flowing into BTC
A big move is coming...
Comment
The sell-off pushed the Technometer's values to 41.12.Some exchanges reached as low as 35 values.
A value of 38 or lower is considered to be clearly Oversold.
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