Top of the Morning' !
After last manipulation lots have changed - ALTs bleeding and BTC consolidating.
As I am a long-time programmer, I started to code my own set of indicators (using different resources + basic indicators as a base). And came up with:
Today let's start analysing together with these indicators.
Fundamental part - we are forming a descending wedge pattern - which retested the top 2 times already and a possible 3rd time will happen soon.
That wedge ends on the most crutial trend line, which supports this whole multi-year bull run. Breaking both the wedge and that line will lead us to at least 30K if not lower.
Breaking the wedge towards the upper part would lead us to retest the top again (possibly leading us to new ATH as this would be the third time we test that area).
More on that later, now the indicators:
Trend Exhaustion + Whale Money
Whale money (blue line) shows the flowing money into the market. We see that this line bounces up together with the waterfall dip and started going up since then. - lots of room towards the upside which is good, as this line moves in long waves
Trend exhaustion (red-green line) shows the exhaustion of a given trend. last tops formed a descending line, which got broken lately - which suggests bullish divergence in this case.
Trend Direction
We bottomed - plenty of room to go up, but still bearish until this line bounces at least to the middle of the cloud
Bulls vs. Bears
We are in the bear territory (blue lines under 0 values), but we are reversing towards the up-side, while the price kept going down - bullish divergence!
All suggests Bulls are fighting and slowly pushing the price up - breaking the wedge is crutial - for now I'm waiting for the 3rd retest of the wedge's top.
Cheers!
After last manipulation lots have changed - ALTs bleeding and BTC consolidating.
As I am a long-time programmer, I started to code my own set of indicators (using different resources + basic indicators as a base). And came up with:
- Trend Exhaustion + Whale Money
- Trend Direction
- Bulls vs. Bears
Today let's start analysing together with these indicators.
Fundamental part - we are forming a descending wedge pattern - which retested the top 2 times already and a possible 3rd time will happen soon.
That wedge ends on the most crutial trend line, which supports this whole multi-year bull run. Breaking both the wedge and that line will lead us to at least 30K if not lower.
Breaking the wedge towards the upper part would lead us to retest the top again (possibly leading us to new ATH as this would be the third time we test that area).
More on that later, now the indicators:
Trend Exhaustion + Whale Money
Whale money (blue line) shows the flowing money into the market. We see that this line bounces up together with the waterfall dip and started going up since then. - lots of room towards the upside which is good, as this line moves in long waves
Trend exhaustion (red-green line) shows the exhaustion of a given trend. last tops formed a descending line, which got broken lately - which suggests bullish divergence in this case.
Trend Direction
We bottomed - plenty of room to go up, but still bearish until this line bounces at least to the middle of the cloud
Bulls vs. Bears
We are in the bear territory (blue lines under 0 values), but we are reversing towards the up-side, while the price kept going down - bullish divergence!
All suggests Bulls are fighting and slowly pushing the price up - breaking the wedge is crutial - for now I'm waiting for the 3rd retest of the wedge's top.
Cheers!
