Yeah, most of the indicators are wanting up. The 4 hour is the only weird one, and is the only exception I see not starting an immediate upswing. My cards are already in for the long haul. If it really does go down ... ouch, then we have to wait for the 4 hour to bottom out or reset for the upswing. I have a snapshot of my indicators for the Daily below....
I think at this point in time because of the weekend and low volume (except for the random spurts of high volume), we should anticipate watching price action closely, along with trend lines. Some indicators are running flat, some of indicators (Stoch) are either all the way (down or up). So this leads to confusion and it's best to follow price action very closely...
Should generally and eventually trend in the upwards directions, meaning higher highs. There's few indicators trending downside that could possibly take over and push price into a downtrend and this is why I'm watching the price action with trendlines.
See how this plays out. Price could go beyond lower than that blue line, which would incur a much larger swing down.
Seems to me the bearish drop is lacking strength, it might be the resulting pull of the weekly MACd crossing over in to positive, pointing up and moving upwards. Careful with the entry for long --- Price can still take a considerable dip due to the Daily indicators dropping off the cliff, moving downwards, and ready to pass under the 50 yard lines. I think that...
Seems like price needs a little relief dip. This scenario gives a realistic possibility. Stair stepping its way down.
Bearish call still. More TF indicators are diminishing towards the downside now. This breakdown should happen soon. Chat room still is more Bullish than Bearish, with that said this is against the sentiment. It's BTC anything is possible with it's volatility.
Calling out a bearish pennant formation. For theory: Take the flagpole length and apply that to the estimated exit of the pennant and this is how the PT (price target) is found. Although being BTC and the volatility BTC creates, I expect more downwards pressure and a greater declining red flag pole than what I have shown.
Wanted to make some extra channels and in the one hour perspective.
Indicators are riding the Bull Trend still. RSI is way over 50% and this will continue to push price upwards. Turn arounds don't necessarily happen quickly. If price continues on the upwards path, then we could be headed for a Parabolic Drive upwards to who knows when it will stop. Relief seems to be near, but the turn takes a while and the indicators need to find...
Artwork made and saved. Enjoy your trading session !! It all started with this, the chop chop in the neutral trading zone and eventually chat asked for someone to draw - Pickle Rick. So... I drew one, and that's the story.
Placing your bets, I'd say most have already. We are in the "chop zone". It will be decided when price passes into either region and the marked lines are these defined crossovers, take note and continue on. This trading area is what I consider the "Neutral Zone". It is abnormally a large percentage spread and they can last for many, many, days long sometimes. I...
Simple science here...or is it? There's two ways to count it. EW is a great guide, although it is subjective sometimes. I have one of these examples plotted. I have in the past got frustrated doing EW count because of this exact reason. I like EW don't get me wrong, I appreciate and respect it very much.
This Chart is going to explain the higher possibility of the downswing and it's percentage movement. There is a lot of information to discuss. First I will break down what your staring at: 4 sections, from top to bottom #1 Price chart #2 MAC'd indicator with momentum trend bars (MACD is the Heavy Yellow Line) #3 God Mode indicator #4 RSI/Stoch/MFI indicator...
Price could still drive up, stall, or take a severe dip. Currently it seems like there is still some upwards movement left on the indicators, nearest point is 2.5 % up. At this point take a strong look at where things are. I don't have the divergences marked, however, look at the 1 hour and 4 hour, you should see them. Price is already in a triple 1 hour...
Drew up some linage, ascending triangles, and channels. Time will let us know what tracking line price decides to take. Run it chart good for 2 days.
I'm duly noting that "if" price ends up breaking down past our recent lows or this strong line of resistance at the lower 7 K region then brace for the fallout into the Slide Zone. We are still in the 3.75 % trading range as I've posted on my last posted chart (see link below). Reality check => My hand drawn down line is showing possible price bar action for the...