BTC/USD
BTC update.
Here is a closer look at this 1 day BTC/USD Bitstamp Chart.
BTC is still below its Bollinger Bands Middle Band Basis 20 Period SMA on this 1 day timeframe. Note that the Upper and Lower Bands have started to expand outwards and this expansion is for negative momentum.
BTC is also still below its Least Squares Moving Average (LSMA) for this 1 day timeframe.
I have added various support and resistance line as well as various support area on this 1 day timeframe.
Looking at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) has crosses below its Signal Line (Orange Line) and dropped below the 0.0 Base Line into the Negative Zone. Note that this is the first drop back into the Negative Zone since 19th Nov 2021 on this 1 day timeframe.
Looking at the Average Directional Index (ADX DI) we can see that Negative Momentum has increased with the -DI (Red Line) rising to 28.86 and Positive Momentum has dropped with the +DI (Green Line) at 19.78. Note that the Trend Strength has increased with the ADX (Blue Line) turning slightly sideways at 21.92. Note that the ADX (Blue Line) is still below its 9 Period EMA (Black Line) which is at 25.21.
If BTC closes a daily candle below its $37,780 - $37,168 support zone and that support zone becomes strong resistance then crucial area for BTC is the support area located at around $31,100 to around $28,646.
I hope this is helpful with your trading and hodl-ing.
Here is a closer look at this 1 day BTC/USD Bitstamp Chart.
BTC is still below its Bollinger Bands Middle Band Basis 20 Period SMA on this 1 day timeframe. Note that the Upper and Lower Bands have started to expand outwards and this expansion is for negative momentum.
BTC is also still below its Least Squares Moving Average (LSMA) for this 1 day timeframe.
I have added various support and resistance line as well as various support area on this 1 day timeframe.
Looking at the Moving Average Convergence Divergence (MACD) we can see that the MACD Line (Blue Line) has crosses below its Signal Line (Orange Line) and dropped below the 0.0 Base Line into the Negative Zone. Note that this is the first drop back into the Negative Zone since 19th Nov 2021 on this 1 day timeframe.
Looking at the Average Directional Index (ADX DI) we can see that Negative Momentum has increased with the -DI (Red Line) rising to 28.86 and Positive Momentum has dropped with the +DI (Green Line) at 19.78. Note that the Trend Strength has increased with the ADX (Blue Line) turning slightly sideways at 21.92. Note that the ADX (Blue Line) is still below its 9 Period EMA (Black Line) which is at 25.21.
If BTC closes a daily candle below its $37,780 - $37,168 support zone and that support zone becomes strong resistance then crucial area for BTC is the support area located at around $31,100 to around $28,646.
I hope this is helpful with your trading and hodl-ing.
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