Premium SignalI have marked this long on the basis of what I see in the short term, however there is currently potential for downward pressure against the BTC pair in the Mid Term TFs
As the Red RSI has closed in the 45 minute below 50 we are now in a race between the Energy in the 45 and the Red RSI in the 90. The Energy in the 45 needs to close above 50 before the Red RSI in the 90 crosses below 50 in order for us to see a possibility of a reversal to sustained upward pressure. In the 45 the Green MA and Red RSI are below 50, if they do not turn up, we are at risk of the price action dropping into at least the White/Aqua Bollinger Bands and probably the Aqua/Orange. We also have to be aware that the Blue LSMA in the 45 is very close to crossing below 50, this would mean we would stand a strong chance of the Bollinger Bands expanding and the price action to fall with it between the Aqua/Orange lower BBs. However the green has in fact turned up and the Red RSI has made contact as the Green is rising - this indicates upward pressure if it can close like this. The Green is higher than the Energy in the 3h & 6h which indicates bullish sentiment, it also looks as though it has a good chance of getting higher than the Energy in the 45. It is my opinion that the Energy will win the race and we can see a period of upward pressure. Although the Energy in the 12h is higher than the Green, we have seen the Green rise strongly with the Energy. We also have a "Premium Signal" in the 12h.
Premium Signal:
The Red RSI & the Blue LSMA have crossed above 50. If we close like this in 3h, there are high odds of the price action trading within the Aqua/Orange upper BBs. We are also likely to see the BBs start to expand because the Blue LSMA has crossed above 50. If I were trading this, I would consider opening a long position in the 12h & monitor it in your short term TFs.
Mid Term (3d, 6d, 9d & 12d)
We are also in a race between the Energy in the 3d & Red RSI in 6d.
We can also see potential for a period downward pressure as indicated in the 6d & 9d where we have closed with the Red RSI making contact with the Green as the Green falls.
If I were trading this, I may consider opening a margin long on short term TFs while looking for an entry for a short on mid term TFs
We need to keep an eye on the Blue LSMA in the 9d as it is turning down and we can already see the BBs begin to expand, unless it turns back up we are at risk of the BBs expanding and the price action to continue with candle bodies for the most part between the White/Aqua lower BBs as.
Trade safe
aBL
These are my opinions based on my interpretation of these indicators. I do not provide financial advice.
