BTC Breakout of ascending channel. Sideways or down to 8.5kUSD?

By cybernetwork

Updated

See text in chart.

Continued analysis from:

BTC buy signal triggered on Cyber Ensemble

Daily chart analysis.

LIVIDITIUM (LVDT) Dynamic Fib Channels/Levels:

More zoomed-out view of the LVDT Channel for comparing with historical behavior.

Where we are presently at in the current bull cycle?

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Chart Update:
Some minor bullish sign emerging..

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Note: PRISM is useful as a supporting indicator to provide hints of an emerging underlying divergent behavior, etc.
Hence when price is increasing or going relative sideways, but the Acceleration/Jerk Ribbon (AJ-Ribbon) is fast falling (steeply sloped descend, and especially if it is in its "red" state), this may indicate weakness in the market, and a potential dump incoming. And this can also conversely apply to when price is decreasing while the (AJ-Ribbon) is fast increasing as well.

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Waiting for Cyber Ensemble and PRISM Signals to signal "buy" again.

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PRISM Signals

Cyber Ensemble {Premium}

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CyberEnsemble buy signal triggered.
And price have pierced above the Ichicloud.

Bullish slant. But BTC needs to gain above about 10150 USD and find support to suggest a continuation upwards. Otherwise, it will likely continue the downward channel trend to completing the bull flag formation, until breakout confirmation.

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PRISM Monemtum is now in the positive, and AJ-Ribbon is now slanted steeply upwards.

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BTC expected to come down a little to retest the bottom of the triangle.. waiting for a breakup to either side. Keeping a close watch.

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But healthy accumulation like behavior is present suggesting a bias towards the upside.

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Updated chart:

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Updated Chart: (Accidentally deleted a trendline above, just before posting)

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Big move incoming?

cybernetwork

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