Quick and Dirty BTC update
BTC is still above its upwards Pitchfork Median Line (A,B,C) on this 1D timeframe.
BTC is still above its Bollinger Bands Middle Band Basis 20 Period SMA on this 1D timeframe.
Note that the 50EMA (Yellow Line) has finally crossed back above the 200EMA (Red Line) on this 1D timeframe.
BTC has found some resistance at its Least Squares Moving Average level (LSMA) (White Line). For people who use this indicator, a candle close above the LSMA is a potential buy signal.
Volume is still relatively low and note that todays Volume Bar is below its Volume 20 Period Moving Average (Orange Line) at the moment.
Here is a closer look at this chart:
Using the Ichimoku Cloud settings of 20,60,120,30:
The Ichimoku Cloud Conversion Line (Tenkan Sen) (Blue Line) is indicating the mid point of the short-term momentum is sideways.
The Ichimoku Cloud Base Line (Kijun Sen) (Orange Line) is indicating the mid point of the mid-term momentum is sideways.
The Ichimoku Cloud Lagging Span (Chiikou Span) (Green Line) is indicating momentum is upwards at the moment.
Note that BTC has found some support from its Leading Span B (Senkou Span B) Cloud support.
Note that gap between the Leading Span A (Senkou Span A) and the Leading Span B (Senkou Span B) levels has shrunk. Bullish confirmation for this 1D timeframe will be when the Leading Span A (Senkou Span A) crosses back over the Leading Span B (Senkou Span B) creating a new Bullish Green Cloud (Kumo).
The Average Directional Index (ADX DI) is indicating the trend strength has dropped slightly and is moving sideways with the ADX (Yellow Line) at 35.42 dropping under its 9 Period EMA (White Line) which is at 35.72. The +DI (Green Line) is pointing upwards at 24.42 and the -DI (Red Line) is pointing slightly downwards at 11.96. This indicates that positive momentum has increased and negative momentum has decreased on this 1D timeframe.
The Relative Strength Index (RSI) is indicating momentum is upwards at the moment. Note that the RSI (Purple Line) has crossed back above its 9 Period EMA (Yellow Line) indicating upwards strength. Note that the RSI still has room to move up before becoming overbought on this 1D timeframe.
If you are still waiting for sub 20K, you might be in for a very long wait especially if BTC creates a new Bullish Green Cloud for this 1D timeframe.
I hope tis is helpful with your trading and hodl-ing.
BTC is still above its Bollinger Bands Middle Band Basis 20 Period SMA on this 1D timeframe.
Note that the 50EMA (Yellow Line) has finally crossed back above the 200EMA (Red Line) on this 1D timeframe.
BTC has found some resistance at its Least Squares Moving Average level (LSMA) (White Line). For people who use this indicator, a candle close above the LSMA is a potential buy signal.
Volume is still relatively low and note that todays Volume Bar is below its Volume 20 Period Moving Average (Orange Line) at the moment.
Here is a closer look at this chart:
Using the Ichimoku Cloud settings of 20,60,120,30:
The Ichimoku Cloud Conversion Line (Tenkan Sen) (Blue Line) is indicating the mid point of the short-term momentum is sideways.
The Ichimoku Cloud Base Line (Kijun Sen) (Orange Line) is indicating the mid point of the mid-term momentum is sideways.
The Ichimoku Cloud Lagging Span (Chiikou Span) (Green Line) is indicating momentum is upwards at the moment.
Note that BTC has found some support from its Leading Span B (Senkou Span B) Cloud support.
Note that gap between the Leading Span A (Senkou Span A) and the Leading Span B (Senkou Span B) levels has shrunk. Bullish confirmation for this 1D timeframe will be when the Leading Span A (Senkou Span A) crosses back over the Leading Span B (Senkou Span B) creating a new Bullish Green Cloud (Kumo).
The Average Directional Index (ADX DI) is indicating the trend strength has dropped slightly and is moving sideways with the ADX (Yellow Line) at 35.42 dropping under its 9 Period EMA (White Line) which is at 35.72. The +DI (Green Line) is pointing upwards at 24.42 and the -DI (Red Line) is pointing slightly downwards at 11.96. This indicates that positive momentum has increased and negative momentum has decreased on this 1D timeframe.
The Relative Strength Index (RSI) is indicating momentum is upwards at the moment. Note that the RSI (Purple Line) has crossed back above its 9 Period EMA (Yellow Line) indicating upwards strength. Note that the RSI still has room to move up before becoming overbought on this 1D timeframe.
If you are still waiting for sub 20K, you might be in for a very long wait especially if BTC creates a new Bullish Green Cloud for this 1D timeframe.
I hope tis is helpful with your trading and hodl-ing.
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