After a few days trading sideways, BTC broke out upwards.
As of typing this, BTC has made a new ATH at about $64,895.
At the moment BTC has found resistance from its 0.786 Trend-Based Fib Extension Level but has also found support from its 0.618 Trend-Based Fib Extension Level.
BTC is still above its Bollinger Bands Middle Band Basis and has dropped back below its Bollinger Bands Upper Band.
Notice how the Bollinger Bands Lower Bands is moving upwards indicating volatility has slowed. When volatility increases, this is displayed by the Upper and Lower Bollinger Bands moving apart from one another.
BTC is still well within its Bullish Zone of the Ichimoku Cloud.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that short-term momentum is upwards.
The Ichimoku Cloud Base Line (Kijun Sen) is also indicating that short to midterm momentum is upwards.
The Ichimoku Cloud (Lagging Span) is back out of the price from 30 periods ago, and is indicating momentum is downwards at the moment.
The Chaikin Money Flow (CMF) is indicating strong accumulation but slightly sideways at the moment.
The ADX DI SMA is indicating that BTC is still in an uptrend for this time frame with the ADX (Yellow Line) at 21.99 above its 10 Period SMA (White Line) which is at 18.51. The +DI (Green Line) is at 27.93 and the the -DI (Red Line) is at 11.01. This is indicting positive momentum is still stronger than negative momentum and we won’t see a +DI cross under the -DI anytime soon for this timeframe.
Ideally we want BTC to close today's daily candle above its previous ATH at around $61,811.
I hope this quick update is helpful with your trading or hodl-ing. Good luck 👍
As of typing this, BTC has made a new ATH at about $64,895.
At the moment BTC has found resistance from its 0.786 Trend-Based Fib Extension Level but has also found support from its 0.618 Trend-Based Fib Extension Level.
BTC is still above its Bollinger Bands Middle Band Basis and has dropped back below its Bollinger Bands Upper Band.
Notice how the Bollinger Bands Lower Bands is moving upwards indicating volatility has slowed. When volatility increases, this is displayed by the Upper and Lower Bollinger Bands moving apart from one another.
BTC is still well within its Bullish Zone of the Ichimoku Cloud.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that short-term momentum is upwards.
The Ichimoku Cloud Base Line (Kijun Sen) is also indicating that short to midterm momentum is upwards.
The Ichimoku Cloud (Lagging Span) is back out of the price from 30 periods ago, and is indicating momentum is downwards at the moment.
The Chaikin Money Flow (CMF) is indicating strong accumulation but slightly sideways at the moment.
The ADX DI SMA is indicating that BTC is still in an uptrend for this time frame with the ADX (Yellow Line) at 21.99 above its 10 Period SMA (White Line) which is at 18.51. The +DI (Green Line) is at 27.93 and the the -DI (Red Line) is at 11.01. This is indicting positive momentum is still stronger than negative momentum and we won’t see a +DI cross under the -DI anytime soon for this timeframe.
Ideally we want BTC to close today's daily candle above its previous ATH at around $61,811.
I hope this quick update is helpful with your trading or hodl-ing. Good luck 👍