BTCUSD: RSI Reset + Bounce off the KC Lower Band #Intradaydream
As you can tell by this 8 x 10 colored glossy picture, we will likely see some nice intraday movement. You can see this clearly by looking at the circles and arrows to help you out I will even add these paragraphs back describing what each one is.
For the trendlines, we can see what is pretty close to an ascending triangle, but it isn't perfect by any means; I am only considering this as an ascending triangle because of the state and size of the cryptocurrency market. We can see declining volume which could be accumulation which is what is expected with ascending triangles.
The RSI has been cooling off for the past few days and has just jumped into even territory on the 2h; this is while reaching levels not seen for ~9 months on the daily. at the same time.
We have also seen that we have received an intraday buy signal from the KC.
*Jumping up and down yelling "trade, trade, trade"* (Entertainment Only)
For the trendlines, we can see what is pretty close to an ascending triangle, but it isn't perfect by any means; I am only considering this as an ascending triangle because of the state and size of the cryptocurrency market. We can see declining volume which could be accumulation which is what is expected with ascending triangles.
The RSI has been cooling off for the past few days and has just jumped into even territory on the 2h; this is while reaching levels not seen for ~9 months on the daily. at the same time.
We have also seen that we have received an intraday buy signal from the KC.
*Jumping up and down yelling "trade, trade, trade"* (Entertainment Only)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.