CLRB is poised for some upward movement within a descending broadening wedge on the higher timeframes. This forms the flag on a larger bullish bull flag.
BTC coming up on a significant inflection point to - most likely to the downside to finish cycle capitulation. Next level down is at major historical confluence of between 11,600 and 9,000.
Since July 2019, each time the 14 close RSI crossed above the 14 day SMA on the Weekly timeframe, we have seen the TOTAL2 market cap increase by an average of 350B.
The current crossover on the above indicator is positioned well compared to past instances that this has occurred.
Thoughts?
The bulls are pushing hard on good volume and testing short term upward resistance within the current ascending channel. Watching to see if they can put us above this trend line and into new upside opportunity.
Don't get excited. After a nice break out of recent downward resistance, we are 1) tapping historical resistance levels and 2) have yet to confirm recent downward resistance will flip support. Short opportunity within the next few days supported by a retracement 0.618 fib back down and horizontal for a bit.
BTC is immediately retesting the downward resistance level that it was rejected by within the last 48 hours. Neutral here as there is such small volume and would need a lot more to break through.
BTC is coming up on a big decision before the end of the month with recent downward resistance meeting historically significant upward trend. Long term trend would imply BTC will respect its trend. Leaning bullish coming into this.
BTC coming back for a retest of most recent short term support level at about 35.7k. If we see a bounce off this level back up, we will have some upward potential up to the current downtrend resistance level.
Inverted head and shoulders helping bullish momentum on BTC 4hr. Reinforces bullish momentum based on other technicals. 63k as a target coming out of this formation.
EOS trading within a bullish pennant on the 4 hour timeframe. Looking to break 4.18 and retest previous support at 4.08 before putting in a long.
Let me know if you agree.
BTC just broke increasing support on the 2hr just before the apex of a wedge where it could have broken to ATH.
Possible breakdown to 52.3k at the lower blue bar.
Bitcoin is looking good on the 4 hour. In an ascending triangle formation using current resistance level of 52,398. We are at a nice place within the larger macro ascending channel (towards the bottom) and showing consistent volume and upward trajectory into a squeeze that will take place on March 9. Would have to break down past a few minor support levels to miss...
LMK your thoughts. I know that everyone was excited that we broke out of the falling wedge pattern (white triangle) this morning but BTC also looks to be respecting a larger descending channel within the macro level ascending triangle on the 2hr (did you follow the bouncing ball on that). Sheesh. Notice where the Bollinger Band highs are respecting this boundary...
