themuzzman

Bitcoin TD 9 on the chart. Where are we heading?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin             is FINALLY trading outside the long downtrend that started back at the all time highs! What happened? The price touched the 50 day moving average and was smacked down. There is also a 9 sell signal from the Tom Demark Countdown which generally results in some profit taking. It's normal to see the price pause here and digest the recent bullish action. The best we can hope for is to get through this current daily candle and not break below $7,865 bringing it back into the downtrend channel . If tomorrow's action brings a green 1 on the chart, then once we get a green 2 trading above that green 1 then the bullish trade is back on the table. So, if Bitcoin             price action can play defense over the next 2 days and setup, we can see higher prices mid week. Bottom line is the price cannot fall back into the downtrend channel . Anything outside of that would be a good start. The MACD is still bullish and has not turned down while the RSI is able to start resetting on the chart.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out