Yesterday’s analysis: Wanting a red 9 on the daily (Wednesday) in confluence with red 9 on weekly. Thought that it would pullback to $5,000 by then, is currently much more bullish than that.
Patterns: Higher low on daily. Inverse h&s with neckline at $6,800. Weekly Triangle
Horizontal support and resistance: R: $6,500 S: $6,200
BTCUSDSHORTS: Threatening to break out of channel after breaking through horizontal resistance. Next stop would be 28,000
Funding Rates: Shorts pay longs 0.056%
EMA’s (12 & 26): Testing 12 EMA for resistance. Bullish crossover on 1h, 2h, 3h. Posturing for cross on 4h.
MA crossovers: Resistance from 50 and 200 MA on 4 hour, and threatening to cross back over. Bearish cross on 3h, 2h, 1h. Posturing to cross back over on 1h.
FIB’s: 0.236 at $58.17 | 0.382 at $8,475
Candlestick analysis: daily spinning top and inverted hammer, now bullish marubozu. 3d hammer shows strong supper at $6,240. Tweezer top on weekly.
Ichimoku Cloud: Weekly starting to c clamp. 3d C clamp resolving itself. Tenkan support on daily.
TD' Sequential: Red 5 on monthly. Close below $6,442 will give us a 9 (unperfected). Red 2 on 3d after 1-4 candle correction. Daily under $6,382 to get a red 6.
Visible Range: Resistance stacked up from $6,500 - $7,200.
50 & 200 MA’s (calculate % difference): 50: -5.97% 200: -41.34%
BTC Price Spreadsheet: X
Bollinger Bands: M: MA waiting at $5,000 W: bouncing off bottom band, MA is at $7,945 3D: Bouncing off bottom band, MA is at $6,886 D: Currently testing MA
Trendline: Could draw bull trendline from 9/14 low through 6/29 low. Downtrend from triangle will be at ~$7,500
Daily Trend: Bullish since 7/13
Fractals: UP - $6,816 DOWN - $6,095
On Balance Volume: Brokedown major at 1,255,729. Will current rebound turn that area into resistance?
Buy/Sell Sentiment on Trading View: RSI - 46 Stoch - 26.3 MA’s are a sell across the board (save Hull MA)
“As for me, I have no desire to carry the football from end zone to end zone. Just give me the territory between the 20 yard lines.” @PeterLBrandt
Yard line of trend:
Top: $19,776
Projected Bottom: $4,000
Field: $15,776 in length
87.15% of expected bear market is complete, therefore we are on the 13 yard line.
Conclusion: Still keeping a close eye on the TD' Sequential. If we close a 9 on the weekly then I would expect a 1-4 candle correction to the upside. If this higher low can hold then I expect a rally to $7,500 - $8,000 over the next 1-4 weeks. Interested in building a long, but hesitant at current price levels. BTC is currently at resistance ($6,375), just closed a hanging man and is currently on a green 9 on the 4 hour chart. The 50 MA is also hovering right above the price. Not a time to buy imo'. I currently feel like ETH:USD is in a stronger position for a bounce and will be posting an update on that chart here shortly.
Patterns: Higher low on daily. Inverse h&s with neckline at $6,800. Weekly Triangle
Horizontal support and resistance: R: $6,500 S: $6,200
BTCUSDSHORTS: Threatening to break out of channel after breaking through horizontal resistance. Next stop would be 28,000
Funding Rates: Shorts pay longs 0.056%
EMA’s (12 & 26): Testing 12 EMA for resistance. Bullish crossover on 1h, 2h, 3h. Posturing for cross on 4h.
MA crossovers: Resistance from 50 and 200 MA on 4 hour, and threatening to cross back over. Bearish cross on 3h, 2h, 1h. Posturing to cross back over on 1h.
FIB’s: 0.236 at $58.17 | 0.382 at $8,475
Candlestick analysis: daily spinning top and inverted hammer, now bullish marubozu. 3d hammer shows strong supper at $6,240. Tweezer top on weekly.
Ichimoku Cloud: Weekly starting to c clamp. 3d C clamp resolving itself. Tenkan support on daily.
TD' Sequential: Red 5 on monthly. Close below $6,442 will give us a 9 (unperfected). Red 2 on 3d after 1-4 candle correction. Daily under $6,382 to get a red 6.
Visible Range: Resistance stacked up from $6,500 - $7,200.
50 & 200 MA’s (calculate % difference): 50: -5.97% 200: -41.34%
BTC Price Spreadsheet: X
Bollinger Bands: M: MA waiting at $5,000 W: bouncing off bottom band, MA is at $7,945 3D: Bouncing off bottom band, MA is at $6,886 D: Currently testing MA
Trendline: Could draw bull trendline from 9/14 low through 6/29 low. Downtrend from triangle will be at ~$7,500
Daily Trend: Bullish since 7/13
Fractals: UP - $6,816 DOWN - $6,095
On Balance Volume: Brokedown major at 1,255,729. Will current rebound turn that area into resistance?
Buy/Sell Sentiment on Trading View: RSI - 46 Stoch - 26.3 MA’s are a sell across the board (save Hull MA)
“As for me, I have no desire to carry the football from end zone to end zone. Just give me the territory between the 20 yard lines.” @PeterLBrandt
Yard line of trend:
Top: $19,776
Projected Bottom: $4,000
Field: $15,776 in length
87.15% of expected bear market is complete, therefore we are on the 13 yard line.
Conclusion: Still keeping a close eye on the TD' Sequential. If we close a 9 on the weekly then I would expect a 1-4 candle correction to the upside. If this higher low can hold then I expect a rally to $7,500 - $8,000 over the next 1-4 weeks. Interested in building a long, but hesitant at current price levels. BTC is currently at resistance ($6,375), just closed a hanging man and is currently on a green 9 on the 4 hour chart. The 50 MA is also hovering right above the price. Not a time to buy imo'. I currently feel like ETH:USD is in a stronger position for a bounce and will be posting an update on that chart here shortly.
emasar Indicator is available for purchase at alphanalysis.io/product/emasar/