* This post is only focused only on the MACRO level, bottom.
* A continuation from the previous post.
Another day passes with no bullish indications and to me what looks like indecision in the market and hence no move up, so far.
As many (me too), I'm looking to take shorts however I'm waiting on the 7300 mark to be taken, with nice candlestick structure, lower highs and some bullish divergence wouldn't hurt.
With the chart, I have added more details from the previous post:
> RSI in my opinion requires further bottoming out, as per rsi section
> I have chosen a potential bottom trendline (dotted blue line)
> If you also note in the bear market, there was a catipulation from the downward channel and its possible this can occur again.
> Note the fracturals, market on the chart, the downward pause (where we are, circled) and confluence with 2018 downward spiral just under the 6K
> In the previous post, I talked about the 200 EMA and MA on the weekly, still relevant but also the 150 MA I'm taking into consideration as it has historical role
3 Day RSI charts
Weekly RSI
Weekly chart
Overview
Another perspective, trend lines
* A continuation from the previous post.
Another day passes with no bullish indications and to me what looks like indecision in the market and hence no move up, so far.
As many (me too), I'm looking to take shorts however I'm waiting on the 7300 mark to be taken, with nice candlestick structure, lower highs and some bullish divergence wouldn't hurt.
With the chart, I have added more details from the previous post:
> RSI in my opinion requires further bottoming out, as per rsi section
> I have chosen a potential bottom trendline (dotted blue line)
> If you also note in the bear market, there was a catipulation from the downward channel and its possible this can occur again.
> Note the fracturals, market on the chart, the downward pause (where we are, circled) and confluence with 2018 downward spiral just under the 6K
> In the previous post, I talked about the 200 EMA and MA on the weekly, still relevant but also the 150 MA I'm taking into consideration as it has historical role
3 Day RSI charts
Weekly RSI
Weekly chart
Overview
Another perspective, trend lines
Comment
On-Chain informationMiners revenue is starting to look like 2018 capitulation
blockchain.com/charts/miners-revenue?timespan=2years
BTC Hash Rate dropping
blockchain.com/charts/hash-rate?timespan=2years
Other reference
twitter.com/BTC_JackSparrow/status/1199368946681622528/photo/1
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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