We are currently just below, and testing, two major trend lines. The expectation is a dump.
BTC weekly has broken beneath the cloud. Both leading spans are pointing downward, and both the conversion/base lines are pointing downward. Overall, this is a very bearish picture for BTC. Currently in a good strong uptrend, however, after a strong bounce at 6400. Previous weekly close was very bullish. We may see a short-term run up to the cloud where we may...
BTC had a nice bounce off the lower trend line and we're heading up as expected. But movement will face increased resistance as we head up toward a confluence of : 1) Previous support form Sept - Oct 2) 50, 200, and 500 ema all converging 3) Psychological level of 8000 4) Halfway point on RSI A bounce down around that level seems likely, and considering the...
We officially have our first T/K cross-up since 2016, and first bullish cloud since 11/2018. Additionally, the lagging span is above previous price action. These indicators come together to paint a very bullish picture on the BTC weekly chart. From the standpoint of the ichimoku indicator, confirmation of a bull market on this timeframe will come when price action...
Keeping an eye on potential cup and handle formation on GAS:BTC
After spending the past week re-tracing, it appears LTC might be ready to continue its uptrend. It found strong support on the lower cloud while spending time consolidating in the realm of previous price action while maintaining its support on the upward-trending cloud. Today it left that support and broke through a trend line which was likely acting as...
Popped above the cloud a few days ago but didn't rise much after, as the lagging strand met resistance at the bottom of the cloud. Still bullish but approaching a thin area of the cloud, and have a *potential* T-K crossover coming up. With the lagging strand approaching previous price action, and price action moving sideways toward the bullish cloud, it's possible...
Confirmation will come on closure above the red line of the cloud.
Looks just about ready to continue its upward trend. Good luck!