Ok- there are multiple things on this chart to consider.
1) BTC is below 200dma
2) Structure resistance is a 6K
3) a possible Hammer Candlestick is forming and my be an indicator of a reversal-Time will tell
4) MACD is wide and continues to show downside.
5) Alt Coins such as Ripple are tied to BTC movements and may be affected.
6) This may be an accumulation period.
1) BTC is below 200dma
2) Structure resistance is a 6K
3) a possible Hammer Candlestick is forming and my be an indicator of a reversal-Time will tell
4) MACD is wide and continues to show downside.
5) Alt Coins such as Ripple are tied to BTC movements and may be affected.
6) This may be an accumulation period.
Note
Hammer Candle is proving out on 4 hour chartSmall uptick is occurring
Note
Hammer is proving positive!!!!Note
Hammer Stick Candle false signal. Reassessing the conditions. BTC is looking lower.Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.