BTC (Prj.Y19.P5.E7).Quick Observation
Updated
Key points on what to watch
> On the Daily, we have a Regular Bullish Divergence
> With regards to the EMAs.
Daily 20 EMA still acting as resistance
Daily 377 EMA acting as support
Both 100 and 200 EMAs are barriers to pass
> Death Cross not reversed
> The Daily RSI is not really helpful however one can only compare with the last bottom with the current range.
I used the GREEN line ans a point of reference for anything below is still in the BEAR trend
RED line indicating previous bottom
Thoughts:
If the Daily 377 EMA is broken, expect a large drop to the downside
If the Daily 20 EMA is broken, expect the 200 EMA to be the next resistance
Conclusion, the squeeze is happening and if the 20 EMA still acts as resistance, it is likely to go down further in the short term.
Cheers,
S.Sari
Close up look. Orange=200 EMA, Blue=100 EMA, Black=20 EMA
My Key Lines to identify support and resistances at the micro level.
> On the Daily, we have a Regular Bullish Divergence
> With regards to the EMAs.
Daily 20 EMA still acting as resistance
Daily 377 EMA acting as support
Both 100 and 200 EMAs are barriers to pass
> Death Cross not reversed
> The Daily RSI is not really helpful however one can only compare with the last bottom with the current range.
I used the GREEN line ans a point of reference for anything below is still in the BEAR trend
RED line indicating previous bottom
Thoughts:
If the Daily 377 EMA is broken, expect a large drop to the downside
If the Daily 20 EMA is broken, expect the 200 EMA to be the next resistance
Conclusion, the squeeze is happening and if the 20 EMA still acts as resistance, it is likely to go down further in the short term.
Cheers,
S.Sari
Close up look. Orange=200 EMA, Blue=100 EMA, Black=20 EMA
My Key Lines to identify support and resistances at the micro level.
Note
Another FracturalNote
Trade closed: target reached
The right call was made, price dropped until a strong bullish divergence occured.
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Related publications
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.