GOLD Long Term Bullish CaseJ of KDJ is showing short term oversold conditions - look for quick bounce opportunities. KD of KDJ oversold but not at new lows same w/ RSI. MACD long term convergence - look for potential breakout with increase in volume and volatility. 100ema should hold as support or else more bearish than bullish. Would add a small position with stop loss around 1125.00. Previous cases exhibit more likely scenario to be a short term bullish opportunity.
Kdj
BTCUSD MONTHLYWe can see 21ema as strong support and resistance on the monthly candle chart. The KD and RSI on KDJ & RSI indicator is not yet at their relative lowest, however, J on KDJ is meeting new lows, which can mean a short term bullish bounce or maybe the start of a slow bullish uptrend. Macd is showing almost maximum convergence, which means we may naturally see some volatility soon when they begin to diverge. Volume has been decreasing all year. High volume will confirm breakout
Short term price consolidation on BTCNice run! Finally! With bull volume! But we are getting overbought on the short time frame and therefore need to see a steady pull back in price with low bear volume before another leg up. Wick on Daily bar insinuates a pivot point in current trend. J on KDJ (yellow) shows short term overbought. 100ema smacking bitcoin as price resistance with 200ema right overhead. However, RSI is building strength for more and KD on KDJ shows room for a bit more push up. MACD shows room for more divergence. Best setup would be pull back for 2-3 days and then another leg up making possibly the 4-5 leg.
AAPL looks weakLet's start with the weak buy volume during the most recent move up from 182 to 191. Inverted red hammer on daily with decent bear volume grinding the top of BB. KDJ indicator show weak rsi overbought conditions. Macd showing little volatility. Volume is drying up. I suspect a breakout soon and more likely down than up. Watch out for fake out with no bull volume.
Bitcoin Weekly Technical Indicators WeakBitcoin, on a weekly basis, looking weak, but still has room to fall. MACD, Premier Stochastic Oscillator, Vervoort Smoothed Oscillator, KDJ, and Ehlers Smoothed Stochastic & RSI with Roofing Filters all are bearish.
I am especially watch KDJ as its strong movement down makes it look like Bitcoin price could make another run at $340 or below.
None of these indicators has bottomed. So expect more downside before Bitcoin price recovers.
Bitcoin Falls Out of Price Channel as Weekly Indicators DeclineThere has been quite a bit of discussion about Bitcoin and the direction of price.
Based on the weekly chart it should become apparent that until the weekly indicators turn up, Bitcoin will have difficult gaining any price altitude.
In addition, Bitcoin has fallen out of the price channel formed back in April based on the pivot low of $339.79. The only indicator below the chart that has not turned bearish is the Premier Stochastic Oscillator (PSO), but it - especially - should give reason for pause. Why? Because based on the past, it will likely go negative before cycling back up to positive. How long could it take once it cycles red to cycle back to positive? Probably two or three weeks at minimum. However, the more likely scenario is that it will cycle positive (of course after it goes negative) only after the other indicators have bullish crosses.
While many are talking about Bitcoin cycling back up in 2 weeks or so, it may actually take much longer unless something happens that allows the indicators to catch themselves and reverse course. In my opinion, the more likely scenario is the indicators continue cycling down in a process more likely to take several months, rather than several weeks. Just take a look at KDJ and the Ehlers Smoothed Stochastic & RSI with Roofing Filters indicators to get an idea of how long a cycle from top to bottom to top is taking. It isn't two weeks, that's for certain. That doesn't discount getting a bump up, but it does indicate the difficulty Bitcoin price will have going back up significantly higher until the indicator cycles complete.