BTCUSD has made a clean break of the inverse head and shoulders to make a higher high somewhere following a lower low which has triggered a huge bias change amongst online traders I follow on reddit/twitter. Though I dont think this means we will break above 10k any time soon, there is reason to believe we are finishing the bear market.
The RSI has not been above the orange resistance we are facing currently in 2018. The OBV has not broken above the downtrend line that was broken a few days ago since 19k was reached.
The ichimoku cloud is about to turn bullish and we have already had a bullish Tenkan/Kijun cross.
Given that I think this is a reversal in the making I won't be looking for long term shorts.
I was stopped out of a long on the right shoulder forming... that one hurt my feelings.
Now looking for longs in the green boxes. I think a retest of the neckline is very unlikely.
The RSI has not been above the orange resistance we are facing currently in 2018. The OBV has not broken above the downtrend line that was broken a few days ago since 19k was reached.
The ichimoku cloud is about to turn bullish and we have already had a bullish Tenkan/Kijun cross.
Given that I think this is a reversal in the making I won't be looking for long term shorts.
I was stopped out of a long on the right shoulder forming... that one hurt my feelings.
Now looking for longs in the green boxes. I think a retest of the neckline is very unlikely.