Hoping for new bull run? What signals to look for?
Updated
This is my first published TA.
In my opinion these are the simplest signals to look for if you're wondering about going long.
I would not underestimate triangle patters as they can be very useful, on the other hand, as it says in the book "trend is your friend" and the "LONG" market sentiment can help the price break through the resistance of an otherwise bearish triangle pattern.
As the triangle resistance level arm can be positioned in few ways I have used two different setups (on the tops of daily candles and on daily closes) thus creating a "bull run resistance (or testing) zone"
Also, I still believe in Fibonacci levels magic so.. yeah.
I have also used the EMA ribbon to show the quite uncertain position of BTC price as its still going sideways leaving an irritatingly neutral sign..
The MACD shows that right now we are in a short term bullish trend and right in the time the price should face the resistance of triangle pattern it should also hit 0 level resistance on MACD chart. Breaking it to the upside would be bullish.
In my opinion these are the simplest signals to look for if you're wondering about going long.
I would not underestimate triangle patters as they can be very useful, on the other hand, as it says in the book "trend is your friend" and the "LONG" market sentiment can help the price break through the resistance of an otherwise bearish triangle pattern.
As the triangle resistance level arm can be positioned in few ways I have used two different setups (on the tops of daily candles and on daily closes) thus creating a "bull run resistance (or testing) zone"
Also, I still believe in Fibonacci levels magic so.. yeah.
I have also used the EMA ribbon to show the quite uncertain position of BTC price as its still going sideways leaving an irritatingly neutral sign..
The MACD shows that right now we are in a short term bullish trend and right in the time the price should face the resistance of triangle pattern it should also hit 0 level resistance on MACD chart. Breaking it to the upside would be bullish.
Note
Oh, yeah I forget to mention the 40% correction line. Well, in previous bull run there have been numerous corrections from 40 - 43% still as a part of the bull run, looking like little consolidations from the point of the whole bullish price move.
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