Hello,
For Today's TA we start with 6H chart, here we can see that BTC has been trading within the fib circle I have from my forecast 2020 TA. After that small pump in early January, this sideways PA is now starting to look more like the side ways PA we saw after Nov2019 pump.
On the 1D chart we still have bull flag/ bull pennant like pattern, which is valid unless BTC breaks below 7940-7750 zone. Also the Shepherd has started to lose it upward momentum indicating weakness in bulls.
Looking at the 3D chart we see the Trend Maker ribbon has been holding the price down, this ribbon has acted as a major trend reversal marker for all BTC trading history.
And finally looking at W-BTC, we see that BTC did manage to close just above the Trend Maker ribbon but below the blue MA, so we still do not have bull mode confirmation. Also weekly Shepherd is touching the resistance zones now, this could end up getting rejected again as it did last time, giving us sell signal confirmation.
**Conclusion**
BTC on mid to high TFs still looking bearish and ready to test back to 6900 or lower. There is some hope if bulls make the push above 8250-8400 by continuation of Bullish pattern on Daily chart.
For the fib ring info you can check my 2020 Forecast TA below.
Happy and safe trading...
Chao...
For Today's TA we start with 6H chart, here we can see that BTC has been trading within the fib circle I have from my forecast 2020 TA. After that small pump in early January, this sideways PA is now starting to look more like the side ways PA we saw after Nov2019 pump.
On the 1D chart we still have bull flag/ bull pennant like pattern, which is valid unless BTC breaks below 7940-7750 zone. Also the Shepherd has started to lose it upward momentum indicating weakness in bulls.
Looking at the 3D chart we see the Trend Maker ribbon has been holding the price down, this ribbon has acted as a major trend reversal marker for all BTC trading history.
And finally looking at W-BTC, we see that BTC did manage to close just above the Trend Maker ribbon but below the blue MA, so we still do not have bull mode confirmation. Also weekly Shepherd is touching the resistance zones now, this could end up getting rejected again as it did last time, giving us sell signal confirmation.
**Conclusion**
BTC on mid to high TFs still looking bearish and ready to test back to 6900 or lower. There is some hope if bulls make the push above 8250-8400 by continuation of Bullish pattern on Daily chart.
For the fib ring info you can check my 2020 Forecast TA below.
Happy and safe trading...
Chao...
