BTC/USD Weekly and 3D /// Bullish momentum

W close to watch !
Still bullish on 3D and W
-W RSI pennant
-W inverted hammer
-3D bullish swallowing candle
-3D bullish RSI divergence

Past week opening was 10k1, this is the first level to hold, where we can also find POC ( volume profile Point of Control) since early july to now
This week opening was 9750, it's the second level to hold in order to preserve the weekly inverted hammer

D & H12 = neutral
-Ugly candles, but already better on lower TF, and support is still holding for now
-RSI falling wedge retest on D, while the price falling wedge breaked out these past days

H4 and H1 = neutral/ bullish
-Red hammer candles, bullish but not as bullish as green hammer
-H4 RSI support holding
-H4 EMA (50) and MA(50) holding
-H1 and H4 Stochastic bull divergences
-Potential broadening bullish triangle
-Classic Retest of EMA200 after first golden cross attempt on H4

CME Futures gaps
10k - 10k4 touched, not 100% fill but complete fill is theorically not necessary for validation
11k6 - 11k9 not reached yet !

Resistance to break : 10400, then 10600
Support to hold : 10100, then 9750
Comment: EMA 50-200 Golden Cross on H4 !
Potential broadening falling wedge on H4 RSI

Comment: Potential falling wedge on 4H chart
Potential Stochastic normal bull divergence on 4H chart

Comment: Price was rejected at resistance after a short term bounce
This scenario was obviously canceled when price went under 10100 and 9700
Comment: Check it out ! :)


Great analysis. Broadening wedge? Inverted H&S

+1 Reply
@f3rG0D, A broadening wedge is a decompression wedge, opposed to normal wedge which is defined by compression
Like for the normal wedge, falling is bullish and rising is bearish :)
Hi maped,
I agree, a hammer at this stage is good news for bulls. Will it be enough to take out recent highs?

+1 Reply
@heish, Descending triangle during bulltrend is mostly a continuation pattern, the form does not really matter but the trend does ;)
@heish, Subscribing to your channel by the way
heish GreenValleyTrading
@GreenValleyTrading, thanks!
I have learned that a triangle means anything can happen. No matter descending, ascending. Sometimes pattern change rapidly, so adapting a neutral mindset is a good approach until proven otherwise.
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out