BTC Daily Chart update on a neater chart than the last BTC chart i did.
First and foremost, we need to wait and see where this daily candle closes.
BTC is back above its Leading Span A (Senkou Span A) resistance and is now in the Bullish Zone of the Ichimoku Cloud. BTC needs to close THIS daily candle in this zone.
BTC is back above its Ichimoku Cloud Base Line (Kijun Sen)
The Ichimoku Cloud Lagging Span (Chikou Span) is indicating momentum is sharply upwards at the moment.
BTC needs to eventually close a daily candle back above its 50EMA and the Ichimoku Cloud Conversion Line (Tenkan Sen).
The Chaikin Money Flow (CMF) is indicating accumulation has increased with the CMF (Green Line) now at 0.09.
The Moving Average Convergence Divergence (MACD) is indicating that the MACD Line (Blue Line) has started to curve upwards and may soon cross over the Signal line (Orange Line). We need the MACD to cross back over the Base Line at 0.0. Notice how todays histogram bar has gone lighter indicating sellers have lost some strenght.
I have added a Trend Based Fib Extension so you can see what potential profit targets & possible resistance there might be on the way up.
Obviously we need to wait for the daily candle close.
If you have absolutely no idea what I’ve typed above, then i would seriously recommend spending a bit of time to do some TA research. It’s why my chart post are not price prediction post, but more educational post about what the indicators are actually indicating and what the price has above and below it. Hopefully I’m succeeding with this strategy and people are learning something new 😅🙏.
You have to be careful, as there are so many people who may try and influence you. Case in point, if you were on the TradingView Chat during the crazy dip, and didn’t know what you were doing, then you might have been persuaded to sell everything at a massive loss because most of the people on that chat were jokers and screaming “this is the end” “$0 here we come” and “how does my p*nis work”. Many people were just looking at trend lines which pointed down but not that many were looking at the Ichimoku Cloud which tells you if it is an actual Bull, Bear or Undecided Market, and many weren't even looking at the RSI which dropped into the oversold zone on the daily. Ultimately, its your money and you should be the one deciding what to do with it, not some joker on the TradingView Chat. Please keep in mind what i have posted before, this is 2021 mainstream with big institutional investors, GreyScale, Musk, Bitcoin ETFs & actual use cases, not 2017/18 retail investor speculation. So remember, if you do your own research, even just a bit, it may save you from getting shaken out.
I hope this is helpful. Good luck wit your Trading & Hodl-ing 👍🔥🔥🌍🌔🪐🛸👽
First and foremost, we need to wait and see where this daily candle closes.
BTC is back above its Leading Span A (Senkou Span A) resistance and is now in the Bullish Zone of the Ichimoku Cloud. BTC needs to close THIS daily candle in this zone.
BTC is back above its Ichimoku Cloud Base Line (Kijun Sen)
The Ichimoku Cloud Lagging Span (Chikou Span) is indicating momentum is sharply upwards at the moment.
BTC needs to eventually close a daily candle back above its 50EMA and the Ichimoku Cloud Conversion Line (Tenkan Sen).
The Chaikin Money Flow (CMF) is indicating accumulation has increased with the CMF (Green Line) now at 0.09.
The Moving Average Convergence Divergence (MACD) is indicating that the MACD Line (Blue Line) has started to curve upwards and may soon cross over the Signal line (Orange Line). We need the MACD to cross back over the Base Line at 0.0. Notice how todays histogram bar has gone lighter indicating sellers have lost some strenght.
I have added a Trend Based Fib Extension so you can see what potential profit targets & possible resistance there might be on the way up.
Obviously we need to wait for the daily candle close.
If you have absolutely no idea what I’ve typed above, then i would seriously recommend spending a bit of time to do some TA research. It’s why my chart post are not price prediction post, but more educational post about what the indicators are actually indicating and what the price has above and below it. Hopefully I’m succeeding with this strategy and people are learning something new 😅🙏.
You have to be careful, as there are so many people who may try and influence you. Case in point, if you were on the TradingView Chat during the crazy dip, and didn’t know what you were doing, then you might have been persuaded to sell everything at a massive loss because most of the people on that chat were jokers and screaming “this is the end” “$0 here we come” and “how does my p*nis work”. Many people were just looking at trend lines which pointed down but not that many were looking at the Ichimoku Cloud which tells you if it is an actual Bull, Bear or Undecided Market, and many weren't even looking at the RSI which dropped into the oversold zone on the daily. Ultimately, its your money and you should be the one deciding what to do with it, not some joker on the TradingView Chat. Please keep in mind what i have posted before, this is 2021 mainstream with big institutional investors, GreyScale, Musk, Bitcoin ETFs & actual use cases, not 2017/18 retail investor speculation. So remember, if you do your own research, even just a bit, it may save you from getting shaken out.
I hope this is helpful. Good luck wit your Trading & Hodl-ing 👍🔥🔥🌍🌔🪐🛸👽
BTC is still in the Bullish Zone of the Ichimoku Cloud.
BTC is above its 50EMA and has found some resistance from its Ichimoku Cloud Conversion Line (Tenkan Sen).
BTC needs to close this daily candle above its 50EMA.
At the moment the Ichimoku Cloud Lagging Span (Chikou Span) is pointing sideways but is still under the price from 30 Periods ago. A crucial sign to look out for is when the Lagging Span (Chikou Span) gets back above the price from 30 periods ago which indicates renewed upwards month has taken over.
The Moving Average Convergence Divergence (MACD) is indicating that the MACD Line (Blue Line) may cross back over the Signal Line (Orange Line) which is a buy signal for some traders. If upwards momentum stays, then we may see the MACD Line cross back over its Basis as 0.0, this indicates that a 12 Period EMA on the Price Chart has crossed back over its 26 Period EMA on the Price Chart. This is a good thing. Notice how the Red histograms are getting lighter and smaller. When the MACD Line crosses over the 0.0 Basis, we will see the start of a green histogram indicating increased buyer strength.
The Chaikin Money Flow (CMF) is indicating accumulation has dipped at the moment but the CMF (Green Line) is still well within the accumulation zone at 0.12.
I hope this is helpful.