ItisCalvin
Short

Lagging Confirms Ahead of Leading. Likely End to Sideways

BITSTAMP:BTCUSD   Bitcoin / Dollar
330 0 1
This is a tough one to try to decipher on the 4H chart.

* The RSI has not given a BUY signal and still remains above that threshold. Expect continuing downward movement.
* Ichimoku is giving a clear signal that is saying that the ranging market is like to end with a quick downward movement. The two Ichimoku supports are very close so that tells me it is unlikely to range for much longer. Still getting the SELL signal as the Senkou span (the cloud above price) hasn't had crossovered. Tenkan Sen (red line) is showing that we are still ranging.
*As I was doing this chart the PSar had yet to give a SELL signal. It just gave one while I was actively making the TA. The MACD lagging indicator already has given a SELL, but there seems to be some unknown             pressure to keep prices up. I think we really want to break down.
* Stoch is about to hit oversold and it looks like we continue to stay that way for the next 12-16 hours. Hasn't hit it yet so no BUY signal there.
* MA has continued to be above the price line which I would say is an indication that we will continue down.

I was very surprised to see that the leading indicator PSar has finally given a SELL while MACD gave SELL hours ago. It will be interesting to see how this will play out. Again, this has been tough to see where we are going. Getting signals that really aren't giving definite BUY or SELL.

For now I am going to say SELL. Short term we could start to near 500 or possibly upper 400s. I would set stop loss of about 615 if you are going to short since I think at that point the pressure up will be strong.

Note: MA is hidden. Wanted to cut down on all the mess of the lines.

This chart is good for up to a day and maybe up to 12 hours after that depending on how much movement we see.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out