BTCUSD - More downside in the short-term (30mins chart analysis)
Updated
More downside to come for BTC in the short-term. Perhaps relative sideways.
BTC remains below thick orange 200 SMA, and continue to be rejected by the green 50 SMA.
50/200 SMA deathcross registered not too long ago.
Rejected by bearish Ichicloud that appears to still be thickening.
For the bulls, will need to wait for:
PRISM Oscillators Analysis.
See also my long-term analysis/target:
Zooming Out: BTC is still looking pretty bullish..
Will be healthier if Stoch resets downwards a little, either correction by price or through time (i.e. painfully going sideways, liquidating longs and shorts along the way, over a longer period of time before continuation)..
BTC remains below thick orange 200 SMA, and continue to be rejected by the green 50 SMA.
50/200 SMA deathcross registered not too long ago.
Rejected by bearish Ichicloud that appears to still be thickening.
For the bulls, will need to wait for:
- For price to first head back above the 200 SMA to advert 50/200
- SMA deathcross (DX) on the higher timeframe.
- Ichicloud to turn positive again on the higher time frames.
- Watching how the weekly candle closes too vs. the trendlines.
PRISM Oscillators Analysis.
- Stochs in a downward corrective trajectory..
- Negative Snap-Oscillator, which is still heading downwards.
- Momentum is accelerating downwards (AJ-ribbon heading sharply down), pulled lower by negative snap-oscillator.
See also my long-term analysis/target:
Zooming Out: BTC is still looking pretty bullish..
Will be healthier if Stoch resets downwards a little, either correction by price or through time (i.e. painfully going sideways, liquidating longs and shorts along the way, over a longer period of time before continuation)..
Note
Bullish pattern emerging..But BTC needs to first pierce above the orange 200 SMA and find support above.
If rejected by the 200 SMA, it will be more likely that BTC will be experiencing further downside.
Note
The red 21 EMA presently at 11.5 USD have been tested and is still holding on the daily though. If this fails, the Ichicloud may still provide a support at ~11.1 USD.If these supports fails to hold, BTC may drop down to 10.4 USD, or even retest the long-term trendline at about 9600 USD where the CME GAP is -- and plausibly rapidly wicking back up.
Note
Note: Typos above.. prices should be in "kUSD" instead of "USD".Note
FUSIONGAPS V4 {50/15} Analysis:BTC remains in a bullish phase on the daily down to the 4hrly as well..
However, momentum-ribbon in a negative phase atm..
BTC have entered a bearish phase on the 3hrly though..and if BTC do not go above the green 50 SMA soon on the higher timeframe, FG{50/15} would be expected to turn bearish as well on the respective timeframes.
Note
Note
Update: BTC finding support on the 11.1k USD VPVR level (see this chart scenario earlier drawn above)Note
A look at the daily chart now:Note
May drop to 10.8k USD (green 50 SMA on the daily) if 11.1k USD level fail as support, which puts it still within the bullish Ichicloud on the daily.
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