Key takeaways from the current chart:
- Support found on the 100 & 200 days .
- Stochastic, and all starting to trend up from oversold levels ( close enough).
- Stochastic and has been oversold for an extended period of time.
- MACD is the only indicator not pointing entirely yet, but if the candle finalizes green, it will likely have all signs pointing to a cross over.
I really can't find much I don't like about the 5-day chart. To me, it's got pretty much everything that I can ask for. The is somewhat slower than the other indicators, so having it not cross over yet is not a deal-breaker what so ever. Even having said that, the histogram has continued shrinking each period and is very small relatively at this point in time.
My last post about BTCUSD was to short the on 12-31-2019, and to look for the bounce from the bottom BBand for a potential change in trend. Combining my theory from the , and this 5-day chart I really like the chances of a trend change here.
We may all wish we accumulated more at 7k. If this is the trend change, we could break 2019's highs.
DISCLAIMER: For educational and entertainment purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto. DYOR, TYOB.
I have a higher % BTC, but like LTC as the ratio is super low vs. BTC (with a similar setup on indicators) and also looks good vs. USD.