Hello Traders!
Today I outlined some things to take note.
*We have important support at 8500 which I don't think will go away. The support for Bitcoin here is apparent. There are a lot of shorts saying it will come down, but we can often forget that bigger trends don't necessarily lead to *our desired outcome, this is why we look at time frames from top to bottom, or at least I do, and hence my first bullet point.
*The MACD is starting to show neutrality, buying and selling pressure pretty evident today, we will see what side takes over, however, this is the first time frame also where buying pressure comes up for air, and may reflect a continuation of the longer time frame buy cycle.
*where my lines converge is most likely the area where we will have to pay attention, more than a couple of hours out, it looks like we should get ready and position ourselves around there.
*It also looks like we had slightly less volume from yesterday, maybe today will be different?
I think we will see either a test back to 8500 than to 8100, or, a test to 9000
Today I outlined some things to take note.
*We have important support at 8500 which I don't think will go away. The support for Bitcoin here is apparent. There are a lot of shorts saying it will come down, but we can often forget that bigger trends don't necessarily lead to *our desired outcome, this is why we look at time frames from top to bottom, or at least I do, and hence my first bullet point.
*The MACD is starting to show neutrality, buying and selling pressure pretty evident today, we will see what side takes over, however, this is the first time frame also where buying pressure comes up for air, and may reflect a continuation of the longer time frame buy cycle.
*where my lines converge is most likely the area where we will have to pay attention, more than a couple of hours out, it looks like we should get ready and position ourselves around there.
*It also looks like we had slightly less volume from yesterday, maybe today will be different?
I think we will see either a test back to 8500 than to 8100, or, a test to 9000
Note
we still have on balance volume hovering at it's most current low.Note
We are seeing some increased OBV for this hour.Note
Soon we are entering the highlighted area I provided. This will make or break the trades today!Remember do not get stuck in smaller time frames.
Trade active
As we can see we are seeing an uptrend that confirms the higher time frames. We will lost likely see it do . 75 of macd selling pressure on longer time frame.
Note
Towards he end of the day we have some obv growth at a discount, and btc is struggling to stay past 8800-8900. We might me see some pull down!
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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.
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.