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Bitcoin
Long
Nov 20, 2023
BTCUSD appears to have more upside potential
1
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Potential signals to watch out for.
Upside:
Most candlesticks that broke above the cloud have higher highs and higher lows
Tenkan-sen and Kijun-sen crosses upwards
Chikou-span i.e. the lagging line is about to cross above the cloud
No weekly bearish bars above the cloud
Downside:
Last week's candle is a potential reversal signal, it's also an inside bar, therefore a breakout is required for confirmation
Price is approaching a monthly resistance, be mindful a sharp reversal may occur.
The Lagging line may be rejected by the top of the cloud
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