All The Young Dudes, Carry The News, Bitcoin Improves,
Updated
Carry The News....
I was looking for Oomph, and I noticed something very interesting this morning. The 9, 12, and 15 moving averages are crossed and rising, and just a little ways away from crossing ABOVE the 50 day moving average. This is a very positive sign if it holds and follows through and will probbaly signal a big push up when it happens. It almost always brings in a lot of buyers and of course higher prices at the cross. (I have made the green candles transparent so you can see this better.)
Parabolic Indicator about to switch from above the candles to below. This happens when the candle crosses above it. One thing of note about the Parabolic (little blue crosses near the candles, which you can barely see the ones on top due to the arrows from the TD indicator)....they are usually where traders put their stops. In this case, shorts will be stopped out making for higher prices as they get run through by bullish plays.
We still need to see the 50 Day turn up, so we aren’t quite out of the woods yet. Until it does, this battle is not won.
Stochastic looks a little overbought and MACD could be stronger on momentum.
The TD countdown indicator is at a solid 4 at the moment, and this could reach a 9 to the upside if we keep pushing through with higher green candles, so we are basically halfway through a very nice count.
Strong resistance at the bottom of the cloud, but it sure is nice to see a candle on the upside of that 50 day. In the past, when a candle has closed above a slanting down 50, the 50 is resistance for the next wave down. But it only does this for a while and we have tested it before.
Watch carefully. From my calculations, we have seen the low for this massive pullback, and we might just keep gyrating back and forth for a little while, but today’s candle so far is very, very nice to see.
Conclusion: HODL and accumulate more. The time to buy Bitcoin is yesterday and today. Then continue HODLing. Higher prices by year end.
I was looking for Oomph, and I noticed something very interesting this morning. The 9, 12, and 15 moving averages are crossed and rising, and just a little ways away from crossing ABOVE the 50 day moving average. This is a very positive sign if it holds and follows through and will probbaly signal a big push up when it happens. It almost always brings in a lot of buyers and of course higher prices at the cross. (I have made the green candles transparent so you can see this better.)
Parabolic Indicator about to switch from above the candles to below. This happens when the candle crosses above it. One thing of note about the Parabolic (little blue crosses near the candles, which you can barely see the ones on top due to the arrows from the TD indicator)....they are usually where traders put their stops. In this case, shorts will be stopped out making for higher prices as they get run through by bullish plays.
We still need to see the 50 Day turn up, so we aren’t quite out of the woods yet. Until it does, this battle is not won.
Stochastic looks a little overbought and MACD could be stronger on momentum.
The TD countdown indicator is at a solid 4 at the moment, and this could reach a 9 to the upside if we keep pushing through with higher green candles, so we are basically halfway through a very nice count.
Strong resistance at the bottom of the cloud, but it sure is nice to see a candle on the upside of that 50 day. In the past, when a candle has closed above a slanting down 50, the 50 is resistance for the next wave down. But it only does this for a while and we have tested it before.
Watch carefully. From my calculations, we have seen the low for this massive pullback, and we might just keep gyrating back and forth for a little while, but today’s candle so far is very, very nice to see.
Conclusion: HODL and accumulate more. The time to buy Bitcoin is yesterday and today. Then continue HODLing. Higher prices by year end.
Note
We are going to need to see how we handle the next major resistance at the cloud. You’ll notice it is also the top of the Bollinger Band and also a dotted green line of resistance placed by the TD indicator. Triple Cluster of resistance, (Cloud, BB, TD)Still, it’ll make for a nice run, and if we make a solid break above it, then it becomes HUGE support. We will keep watching.
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