BTC 4hr update:
BTC is above its Bollinger Bands Middle Band Basis 20 Period SMA.
BTC is above its Volume Profile Visible Range VPVR Point of Control (POC) for this charts visible range.
BTC is above its Volume Profile Fixed Range VPFR Point of Control (POC) for the fixed range i have selected.
Volume is relatively Low for this 4hr Volume Bar & the Volume Bar is below its Volume 20 Period Moving Average (Orange Line) so we may see a drop back to the VPFR POC.
BTC is above its Schiff Pitchfork (A,B,C) Median Line.
BTC is still within its huge sideways channel (Parallel White Lines).
The Moving Average Convergence Divergence (MACD) is indicating theta the MACD Line (Blue Line) has crossed back above the 0.0 level indicating that a 12 Period EMA has crossed back over a 26 Period EMA on this 4hr chart indicating bullish momentum for this 4hr timeframe. Note that the green Histogram has lightened indicating a weakening of bullish momentum at the moment.
The Average Directional Index (ADX DI) is showing that the +DI (Green Line) is at 21.94 and has crossed back above the -DI (Red Line) which is at 12.12. This indicates that positive momentum is now stronger then negative momentum for this 4hr timeframe. The Trend is a strong positive trend with the ADX (Yellow Line) is at 21.86 above the 20 Threshold (Dashed Line) and above its 9 Period EMA (White Line) which is at 20.37.
The Chaikin Money Flow (CMF) is indicating strong accumulation with the CMF (Green Line) reaching 0.37 but now dropping to 0.29 on this 4hr chart. Notice that the CMF (Green Line) has dropped back under its Least Squares Moving Average (LSMA) which is at 0.34 so we may see a lessening of upwards pressure before the next leg up.
When someone tweets, burps or farts “BTC will drop to sub $20K”, you have to ask yourself, is that a possibility? The answer is “yes” but rather then sh*t your pants, you have to set levels which will be a form of confirmation to you that such a drop might happen. My confirmation was the WEEKLY 50EMA. Remember that i stated many times before, “so long as BTC keeps closing WEEKLY candles ABOVE the WEEKLY 50EMA, then sub $20K will not happen”. Now, there is always a possibly an asset can produce a very big Wick upwards or downwards, but REMEMBER, its where the candle CLOSES that counts. and BTC never closed a WEEKLY candle BELOW the WEEKLY 50EMA. And that’s that.
I hope this is helpful with your trading and hodl-ing.
BTC is above its Bollinger Bands Middle Band Basis 20 Period SMA.
BTC is above its Volume Profile Visible Range VPVR Point of Control (POC) for this charts visible range.
BTC is above its Volume Profile Fixed Range VPFR Point of Control (POC) for the fixed range i have selected.
Volume is relatively Low for this 4hr Volume Bar & the Volume Bar is below its Volume 20 Period Moving Average (Orange Line) so we may see a drop back to the VPFR POC.
BTC is above its Schiff Pitchfork (A,B,C) Median Line.
BTC is still within its huge sideways channel (Parallel White Lines).
The Moving Average Convergence Divergence (MACD) is indicating theta the MACD Line (Blue Line) has crossed back above the 0.0 level indicating that a 12 Period EMA has crossed back over a 26 Period EMA on this 4hr chart indicating bullish momentum for this 4hr timeframe. Note that the green Histogram has lightened indicating a weakening of bullish momentum at the moment.
The Average Directional Index (ADX DI) is showing that the +DI (Green Line) is at 21.94 and has crossed back above the -DI (Red Line) which is at 12.12. This indicates that positive momentum is now stronger then negative momentum for this 4hr timeframe. The Trend is a strong positive trend with the ADX (Yellow Line) is at 21.86 above the 20 Threshold (Dashed Line) and above its 9 Period EMA (White Line) which is at 20.37.
The Chaikin Money Flow (CMF) is indicating strong accumulation with the CMF (Green Line) reaching 0.37 but now dropping to 0.29 on this 4hr chart. Notice that the CMF (Green Line) has dropped back under its Least Squares Moving Average (LSMA) which is at 0.34 so we may see a lessening of upwards pressure before the next leg up.
When someone tweets, burps or farts “BTC will drop to sub $20K”, you have to ask yourself, is that a possibility? The answer is “yes” but rather then sh*t your pants, you have to set levels which will be a form of confirmation to you that such a drop might happen. My confirmation was the WEEKLY 50EMA. Remember that i stated many times before, “so long as BTC keeps closing WEEKLY candles ABOVE the WEEKLY 50EMA, then sub $20K will not happen”. Now, there is always a possibly an asset can produce a very big Wick upwards or downwards, but REMEMBER, its where the candle CLOSES that counts. and BTC never closed a WEEKLY candle BELOW the WEEKLY 50EMA. And that’s that.
I hope this is helpful with your trading and hodl-ing.
Comment:
Apologies for the spelling mistakes ;-)
Comment:
Here is an Ichimoku Cloud analysis using the 20, 60, 120, 30 crypto settings:
BTC is back in the Bullish Zone of the Ichimoku Cloud for this 4hr timeframe.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the mid point of the short-term momentum is upwards for this 4hr timeframe.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating that the mid point of the mid-term momentum is sideways for this 4hr timeframe.
The Lagging Span (Chikou Span) is indicating were seeing a bit of downwards momentum at the moment for this 4hr timeframe.
It is crucial that BTC stays in the Bullish Zone & turns the Leading Span B (Senkou Span B) into strong support as this will enable the Leading Span A (Senkou Span A) to eventually cross back over the Leading Span B (Senkou Span B) creating a Cloud (Kumo) Twist into a new bullish green cloud for this 4hr timeframe.
I hope this is helpful with your trading and hodl-ing.
BTC is back in the Bullish Zone of the Ichimoku Cloud for this 4hr timeframe.
The Ichimoku Cloud Conversion Line (Tenkan Sen) is indicating that the mid point of the short-term momentum is upwards for this 4hr timeframe.
The Ichimoku Cloud Base Line (Kijun Sen) is indicating that the mid point of the mid-term momentum is sideways for this 4hr timeframe.
The Lagging Span (Chikou Span) is indicating were seeing a bit of downwards momentum at the moment for this 4hr timeframe.
It is crucial that BTC stays in the Bullish Zone & turns the Leading Span B (Senkou Span B) into strong support as this will enable the Leading Span A (Senkou Span A) to eventually cross back over the Leading Span B (Senkou Span B) creating a Cloud (Kumo) Twist into a new bullish green cloud for this 4hr timeframe.
I hope this is helpful with your trading and hodl-ing.