Recent BTC push, shows that we are now above the Kumo #ichimoku on the daily timeframe, the first resistance is set for 51k, the pullback should be in confluence with the conversion line, since the lagging span is also above the kumo an upward trend is expected.
However entering at current levels may be less safe then what it appears, since RSI levels are already high, and pushing towards the 75 line. ADX seems to be topping out as well, and the volume is lowering, so im expecting a strong correction on once BTC hits the target, then a good buy zone should arise for alts.
Next levels is either a resistance of the 45k and a pierce of the kumo back down (since its not that thick yet, if side movement ihappens nside the cloud expect it to visit the opposite side, or a push upwards., if it remains above the kumo, which i believe it will since ADX is bullish on the 3d timeframe, we are back in the game, the wick of the low should hit either last support, conversion line or leading span1.
keep your emotions in check.
Short term::Bearish
Long term: Bullish AF
Disclaimer:attend your own portfolio management, this is not financial advice, just market speculation from a noob.
However entering at current levels may be less safe then what it appears, since RSI levels are already high, and pushing towards the 75 line. ADX seems to be topping out as well, and the volume is lowering, so im expecting a strong correction on once BTC hits the target, then a good buy zone should arise for alts.
Next levels is either a resistance of the 45k and a pierce of the kumo back down (since its not that thick yet, if side movement ihappens nside the cloud expect it to visit the opposite side, or a push upwards., if it remains above the kumo, which i believe it will since ADX is bullish on the 3d timeframe, we are back in the game, the wick of the low should hit either last support, conversion line or leading span1.
keep your emotions in check.
Short term::Bearish
Long term: Bullish AF
Disclaimer:attend your own portfolio management, this is not financial advice, just market speculation from a noob.