Gann Matrix Alignment Shows Upward Trend Resumes By Monday
OK, I’m noticing a lot of things right now.
1) We hit the support range I predicted 8400-8600;
2) We are in a tight trading range since last close and this could create a doji at today’s close;
3) Parabolic SAR is still positive;
4) TD Green 1 created on today’s candle;
5) Stochastic is edging towards an oversold vector;
6) MACD Histogram is still positive;
7) We’ve move away from the top band of the Bollinger Channel.
Conclusion: We are still on target for the Gann timing turn around point (Sat) and will start to head upwards by Monday.
In addition, I am coming to the conclusion that we are following the stock market, particularly the Nasdaq. While most people are calling for a fall of the market, I see it currently in a minor setback and higher by year end, meaning BTC is higher as well.
As for Bitcoin, we will see a return to 9700 (resistance) and eventually 12k (also resistance). This may set us up for another wave down at 12k before going higher. 14k brings FOMO, taking to a new All Time High. Look for this to be the bottom at this range of 8400-8600 and then to 9700 first, then we reevaluate the next directional move.
Twitter: @CaptainScio
(Not Investment Advice)
1) We hit the support range I predicted 8400-8600;
2) We are in a tight trading range since last close and this could create a doji at today’s close;
3) Parabolic SAR is still positive;
4) TD Green 1 created on today’s candle;
5) Stochastic is edging towards an oversold vector;
6) MACD Histogram is still positive;
7) We’ve move away from the top band of the Bollinger Channel.
Conclusion: We are still on target for the Gann timing turn around point (Sat) and will start to head upwards by Monday.
In addition, I am coming to the conclusion that we are following the stock market, particularly the Nasdaq. While most people are calling for a fall of the market, I see it currently in a minor setback and higher by year end, meaning BTC is higher as well.
As for Bitcoin, we will see a return to 9700 (resistance) and eventually 12k (also resistance). This may set us up for another wave down at 12k before going higher. 14k brings FOMO, taking to a new All Time High. Look for this to be the bottom at this range of 8400-8600 and then to 9700 first, then we reevaluate the next directional move.
Twitter: @CaptainScio
(Not Investment Advice)
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.