This is just a current bottom for the daily time frame....
Momentum wave is curving back up and VWAP looks good too. Waiting on bigger time frames to follow or break down...
VWAP looking like it will cross upwards and the momentum is moving up currently...
Based on previous price action, we may move down a bit... Looks like we may have a new channel to trade in. Lets see if where this hourly time frame bottoms out....
The yellow VWAP is curving back to the 0 line, a cross is what we are looking for. And the blue momentum wave is above the 60 line indicating there is a strong possibility to continue up. I'll post when and if this indicator has shown what I have described...
Still momentum left on this swing on the daily time frame.... could change though, watch smaller time frames to validate. I charted these spider lines a while back they are based on previous price action. They have been very significant for me currently in this bull run we have had... So with that said, Bitcoin may cool off a bit but we are probably going higher...
We broke some resistance... Pay attention to the next downward action for a bottom...
Not saying it is THE bottom but currently for the 12hr time frame it is a bottom. Watch smaller time frames to follow or breakdown... Watching the daily also to validate this bottom... But the momentum is moving up, so we will see
I charted these spider lines on previous price action on the weekly... Look how relevant they are on the 1hr chart... Experiment with charting a ray line from past price action on the weekly or daily time frames. Lay the Ray line on a previous low to a previous low. I posted some stuff on these lines about a month ago. They have helped me along with using...
May not be THE bottom but currently on the 6hr time frame it is a bottom... Watch the larger time frames to follow or break down.
This may not be THE bottom but currently on the 4hr time frame it is a bottom. Watching for larger time frames to follow or break down....
Momentum is heading up on the daily and the RSI has crossed the 0 line on Market CipherB. 1hr through 12hr look good also currently.... Pay attention to lower time frames but we look good, real good to test 60,000...
Doe not mean it is THE bottom but it is a bottom for the 6hr time frame watching 8 and 12 hr to follow....
The RSI is under the 0 line needs to break up again. The money flow is ok as long as it doesn't start curving down.... The blue momentum waves are what I am looking at. If the blue momentum wave stays above the 60 line then we can still see upward action, if the momentum goes under it is likely we are trending down. 4 more days on the weekly time frame to reset...
Looks like money flow, rsi, and momentum are continuing down on the daily time frame... not looking promising for a bounce currently to the 60,000. Looking like we are heading to a new bottom sometime or a re-test of the last bottom on the hourly.... still looks like it needs to cool off....
May not be THE bottom but on the 2hr time frame it is a bottom. Waiting on the 3hr and 4hr to follow... something to look at.
Does not mean it is THE bottom but if the 2hr, 3hr, 4hr follow.... then we will probably test 60,000 again. If the hourly breaks down we will find a new lower bottom or re-test this bottom.
For me on the weekly time frame The Blue Momentum wave needs to curve up, the Green Money Flow needs to curve up, the RSI needs to curve and break the 0 line on Market Cipher B indicators. So not only these things here but also a breakthrough past 60,000 resistance.