BTC -- Critical Intersection
Performed some in-depth analysis on DMI/ADX which has revealed an interesting pattern with regards to BTC.
- If ADX is low (below my threshold), in an uptrend DI- can be above DI+ and still continue an uptrend.
- If ADX is high (above my threshold), as long as DI+ is about DI- then uptrend should continue.
- If ADX is high, it represents a much more volatile state and chances of a reversal in an uptrend appear higher.
- Currently DI- and DI+ are going down and ADX is heading up towards my threshold but not sharply. if ADX goes above it and DI- is above DI+ then it opens the possibility for a rejection and potential downtrend.
- If BTC can rise past 9,2-3, I think FOMO will occur and potentially test 10. If it finds support above 10, I think market sentiment will have fully shifted to bull
- If ADX is low (below my threshold), in an uptrend DI- can be above DI+ and still continue an uptrend.
- If ADX is high (above my threshold), as long as DI+ is about DI- then uptrend should continue.
- If ADX is high, it represents a much more volatile state and chances of a reversal in an uptrend appear higher.
- Currently DI- and DI+ are going down and ADX is heading up towards my threshold but not sharply. if ADX goes above it and DI- is above DI+ then it opens the possibility for a rejection and potential downtrend.
- If BTC can rise past 9,2-3, I think FOMO will occur and potentially test 10. If it finds support above 10, I think market sentiment will have fully shifted to bull
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.