BTC - Quick Daily Chart Update
Quick BTC Daily Chart update:
BTC is still ranging sideways within its Sideways Channel.
BTC has found some resistance from its Weekly 50EMA, it is crucial that BTC closes THIS weekly candle above this level and turns it into strong support.
BTC is still below its Bollinger Bands Middle Band Basis 20 Period SMA. BTC needs to closes above this level and turn it into support.
BTC is still above its descending Pitchfork (A,B,C) Median Line.
BTC is still below its Volume Profile Visible Range VPVR Point of Control (POC) for this charts’s visible range.
Daily Volume is still relatively low and the Volume Bar is below its Volume 20 Period MA.
The Chaikin Money Flow (CMF) is indicating BTC is still being accumulated and accumulation has increased from 0,02 to 0.14, notice that the CMF (Green Line) is back above its Least Squares Moving Average (LSMA) which is at 0.10.
The Average Directional Index (ADX DI) is indicating the trend strength is sideways with the ADX (Yellow Line) at 39.29 below its 9 Period EMA (White Line) which is at 39.84. Notice that the -DI (Red Line) has dropped from around 33 to 28.52 and is pointing downwards. The +DI (Green Line) is pointing upwards at 13.16. This indicates negative momentum has dropped and positive momentum has increased on this 1D timeframe. We eventually need the +DI (Green line) to cross back ABOVE the -DI (Red Line) on this 1D timeframe.
So tonight is a crucial WEEKLY CLOSE as we ideally need BTC to CLOSE THIS WEEKLY CANDLE above the Weekly 50EMA.
I hope this is helpful with your trading and hodl-ing.
BTC is still ranging sideways within its Sideways Channel.
BTC has found some resistance from its Weekly 50EMA, it is crucial that BTC closes THIS weekly candle above this level and turns it into strong support.
BTC is still below its Bollinger Bands Middle Band Basis 20 Period SMA. BTC needs to closes above this level and turn it into support.
BTC is still above its descending Pitchfork (A,B,C) Median Line.
BTC is still below its Volume Profile Visible Range VPVR Point of Control (POC) for this charts’s visible range.
Daily Volume is still relatively low and the Volume Bar is below its Volume 20 Period MA.
The Chaikin Money Flow (CMF) is indicating BTC is still being accumulated and accumulation has increased from 0,02 to 0.14, notice that the CMF (Green Line) is back above its Least Squares Moving Average (LSMA) which is at 0.10.
The Average Directional Index (ADX DI) is indicating the trend strength is sideways with the ADX (Yellow Line) at 39.29 below its 9 Period EMA (White Line) which is at 39.84. Notice that the -DI (Red Line) has dropped from around 33 to 28.52 and is pointing downwards. The +DI (Green Line) is pointing upwards at 13.16. This indicates negative momentum has dropped and positive momentum has increased on this 1D timeframe. We eventually need the +DI (Green line) to cross back ABOVE the -DI (Red Line) on this 1D timeframe.
So tonight is a crucial WEEKLY CLOSE as we ideally need BTC to CLOSE THIS WEEKLY CANDLE above the Weekly 50EMA.
I hope this is helpful with your trading and hodl-ing.
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