BTCUSD: Daily MACD Signalling Seller Exhaustion at $8,500

As can be seen by the Moving Average Convergence Divergence (MACD), bears have begun signalling exhaustion on the Daily time-frame at current prices, though not yet confirmed with a closing candle. This colorful extrapolations is based on the most recent times the MACD's histogram went below -175 while trading the bear & bull exhaustion cycles, as opposed to the bull and bear crosses with the signal line as the MACD is traditionally used for.

The concern is decreasing bullish momentum of each rally (when sellers become exhausted >-175) with the lower highs on the buyer's end of the histogram, as well as other short-term bearish factors. None the less in each occurrence in the past 9 months bear exhaustion has signaled good entries for profitable trades or otherwise break-even trades at worst (such as the yellow and blue recent seller exhaustion).

In the background, the 0.5 fib retracements of the $3.2K to $14K as well as $6.4K-$10.5K move line up around $8.5K at current prices. The RSI is otherwise bearish with room to move to oversold conditions, as referenced below. It's time to BTFD again.

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Trade active:

We did confirm the bearish exhaustion on the MACD histogram with the Daily close which is a bullish sign. We are now opening today's candle with continued declining bearish momentum:

Source: bitcointalk.org/index.php?topic=5221...