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MFI

btc/usd: to be long or not to be long?After the drop, btc is showing some bullish stuff on the h4 chart. - A possible quasimodo pattern is forming. - Mfi shows bullish divergences - DI+ was rising while price was falling---> bullish - DI- is at the same level while price was falling ---> bullish - ADX is going down while the price is going down ---> bullish - ADX is crossing down the SMA: this means that the actual trend (downtrend) isn't strong - Squeeze momentum indicator shows bullish divergence So at the moment we don't have reasons to stay short, but everything could happens. I won't short. I will short ONLY if btc closes h4 under 7600. Everything above 7600 is still good and not so scary. As you can see i have arrows of 3 colors for 3 different scenarios. How will i trade? - I hope btc will follow the blue or green arrows, so i will wait for the light blue rectangles, then place a buy order on the green rectangle (low reclaim, 7900 area)---> this -will be a quasimodo pattern. The target could be 8200-8400. - If will happen the black arrows scenario, probably won't go fast at 8400, so i will buy retracements!
BITSTAMP:BTCUSDLong
by speaking_tree
[KMDBTC] Komodo chart analysis We have Komodo, a strong cryptocurrency project, for a long-term trade. Let's take a look at the chart, we will look at our signals for bottomed out altcoins: *Here we have the bullish divergence on the MFI . *MACD bullish crossover. *we have strong support-line in 0.0000696. ------------------------- ENTRY: 0.0000695 - 0.0000720 TARGET: (1) 0.0000865 (2) 0.0001100 (3) 0.0001364 (4) 0.0001735 (5) 0.0002263 (6) 0.0003500 (7) 0.0004585 STOP: Close weekly below 0.0000670. ------------------------- Visit my Telegram channel: t.me
Long
by atams
1
btc/usd: bulls aren't readyLooking at the h4 chart i see that bulls are still shy and btc doesn't have the strenght to go up (at the moment). The 200 MA is blocking the price. At the same level in h1, we have the top of the Ichimoku cloud, so 10500 it's hard to break. The ADX and DI show that the trend is still bearish (not so strong) and the bulls aren't here. The last h4 positive candle that closed at 10400, is a candle with very low volume and the next one is a doji. This is bearish for me. MFI shows a bearish divergence, because the price went up, while MFI went down. At the moment i could expect more dump but I still think that in the next days btc will go up. I'm looking at the red rectangle to long again, with 10600-10800 as target for the bounce. I'll update if btc reaches the red rectangle!
BITSTAMP:BTCUSD
by speaking_tree
Short squeeze to $4240 or $4520**I was just about to click publish when the short squeeze beat me to it. This was the analysis: Bitcoin sentiment and the weekly chart is bearish, however, Bitfinex shorts are rising and have fallen out of and retested a rising wedge which means we might have a short squeeze from here in the short term and a bounce to retest that pennant as resistance at around $4240. The larger trendline resistance since $6k is now holding as support and we also have bullish divergence on the 4H money flow indicator (which includes both price and volume) so looking for a bounce since stochastic is also oversold. I think btcusd will be testing new lows if we drop from $4240, which coincides with EMA50 as resistance but if we do manage to find support above $4240, I don't think we'll get a close above $4520, which coincides with our EMA100 resistance unless buying volume returns. You'll notice that buying volume has been gradually dropping after every bearish volume spike. We may find support at around $4150 if we do get to $4500 but better to see what happens closer to then. This is the btcusdshorts rising wedge I was referring to: Good luck and happy trading! previous post:
BITFINEX:BTCUSDLong
by Corn_Reaper
2
LAST KISS or FAILURE TO HOLD - BTC LONG TERM WEDGEBitcoin has broken it's longer term wedge and has been moving above it for the last several days. There is a very clear divergence on the OBV RSI on the 4hr, OBV RSI & Twiggs MFI on the 8hr and Twiggs MFI on the 12 hr. Failed higher highs all over the place when comparing indicators to price. Breaking this wedge back to the downside would provide large players an opportunity to accumulate more at lower levels and shake out weak hands that have been buying on this last rally. Conversely there could be support at the trend line and a push higher after correcting to the 1/1 Gan Fan line. The new of a BTC ETF could create a sustained rally into the 1/1 channel which would move us up to higher resistance levels, at which point we would have to analyze the market at that point based on ETF news and other factors.
BITSTAMP:BTCUSD
by blakester1111
More signs pointing up than downThings are looking bullish. First thing I see Is the bullish divergence that I've posted about before on the MFI and RSI on the daily chart. This essentially looks like the inverse of the Bearish divergence that was clearly visible on the apex of the bull market back in December. The anemic volume is starting to show some strength. The 20 day moving average is starting to rise. This is very encouraging from a bull's perspective. I see a few scenarios. The Stoch RSI is heading into the overbought range, pointing to a pull-back... I'm looking at the previous resistance at 6300-6400. This would be a set-up for a reverse head and shoulders... bullish. Next most likely to me looks like a continuing rally to 6800 which is the previous resistance from the week of 6/20 or the previous support at 7050 from 5/28. I'm becoming very encouraged that the sleeping giant is starting to awaken. Happy trading!
COINBASE:BTCUSDLong
by fghjkl
Bullish divergence on RSI and MFILast week I published a chart showing bullish divergence with MFI, now there is both divergence on MFI and RSI on the daily chart. I was thinking that the price would rally starting last week, but obviously that did not happen. I'll be waiting for stochastic RSI to give a signal before looking for an entry point... right now it's trying to figure itself out. I am again cautiously optimistic that the price will start to rise. Looking at volume, the moving average is starting to level out and even starting to rise on the daily chart. This isn't the big volume spike that I would like to see for a true reversal, but it is nice to see the steady drop-off in volume that has been going on since January starting to slow down. Maybe it's only temporary, will be keeping and eye on it. Sentiment is certainly at a low. For the contrarian trader, this is also a bullish indication. Like I said before, I am cautious, but I think that the bottom may be in. The bear market may be ending, and a long march to new all time highs may be beginning. I'm looking at the 7100 level (past support) as the next major resistance level if we start to rally. If my theory all falls apart, then I'm looking at the 5800 (previous support), 5000 (big round number), and 4200 (1.618 extension) levels for future lows. Do your own analysis of course! Take care and happy trading!
COINBASE:BTCUSDLong
by fghjkl