BitcoinShort
Btc bullish in gulfing on support
We seeing a bullish ingulfing on support level is this a turning sign
The pattern is appearing on the 1h a sign of caution to short positions at this point.
All indicators are still predominantly bearish
In cases like this we have to look at the Rsi because we are at a major support level.
We see a pattern forming on the rsi indicating a increase in buyers
So let's increase our caution level
The adx is still strong bearish on the 4h and daily time frame
Because most of the power is in the weekly candle we have to take note of what's happening there
The rsi on the weekly is under 50 still a bearish signal.
We see the continuation pattern that has been forming on the weekly since 22 Feb forming again.
It seems the move of the drop is calculated with 2 to 3 weeks up and than drop to lower levels.
If this is correct we will see a consolidation on the 4h to lower time frames.
Until 25 June before we see a break of this level.
In this case we have to keep our eye on the idea of a new long position opening
The first support on the monthly is at 10 000
We don't know if this level will be reached but the morning star with bearish ingulfing is a strong indication that this is possible
The 1h time frame shows strong resistance for more upswing
All signals like in the past are mixed
We still leaning towards the short in this case because conditions indicate more downswing
OK GUYS KEEP SAVE TRADE SAVE
AND KEEP YOUR EYES ON THE COIN THIS LEVEL IS VERY IMPORTANT AS YOU KKOW
The pattern is appearing on the 1h a sign of caution to short positions at this point.
All indicators are still predominantly bearish
In cases like this we have to look at the Rsi because we are at a major support level.
We see a pattern forming on the rsi indicating a increase in buyers
So let's increase our caution level
The adx is still strong bearish on the 4h and daily time frame
Because most of the power is in the weekly candle we have to take note of what's happening there
The rsi on the weekly is under 50 still a bearish signal.
We see the continuation pattern that has been forming on the weekly since 22 Feb forming again.
It seems the move of the drop is calculated with 2 to 3 weeks up and than drop to lower levels.
If this is correct we will see a consolidation on the 4h to lower time frames.
Until 25 June before we see a break of this level.
In this case we have to keep our eye on the idea of a new long position opening
The first support on the monthly is at 10 000
We don't know if this level will be reached but the morning star with bearish ingulfing is a strong indication that this is possible
The 1h time frame shows strong resistance for more upswing
All signals like in the past are mixed
We still leaning towards the short in this case because conditions indicate more downswing
OK GUYS KEEP SAVE TRADE SAVE
AND KEEP YOUR EYES ON THE COIN THIS LEVEL IS VERY IMPORTANT AS YOU KKOW
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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.
Related publications
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.