I am going to try doing things a little differently moving forward. The bottom line is that I have been spending much more time on this each day and seeing too little return in terms of networking and community interaction. The checklist below is what I go through every day. It is a list of my most important indicators in order of importance. There are so many different variables that it can be easy to get paralysis by analysis. My skill is being able to look at all of them and come to a concise conclusion. If this checklist helps you develop a consistent process then it is yours to use free of charge! Also feel free to skip the analysis and go straight to the conclusion at the bottom.
Yesterday’s analysis: Weekly OBV div, Weekly TD countdown, 6 hour cloud, and moving average crossovers.
Horizontal support and resistance: S: $6,275 R: $6,377 | $6,560 | $6,660
BTCUSDSHORTS: Fitting into downward channel. Rebound didn’t test top end of channel. Instead it found resistance at 23,000. Hanging man forming. Looks like we will go for a retest of 20,000 at a minimum. Bearish cross on EMAs. Divergence in weekly long:short is significant and starting to angle back for convergence. Longs are high, shorts have room to rally. Also longs paying shorts. Div in 6 hour long:short ratio is as big as we have seen it in 2018
Funding Rates: Longs pay shorts 0.01%
EMA’s (12 & 26): Angling down. No longer posturing for bullish crossover.
MA crossovers: Bearish. After flattening out they are angling down and spread out indicating a continued bearish trend.
FIB’s: Currently bouncing off 0.382 and illustrates why we haven’t gotten to $5,00 yet.
Candlestick analysis: Spinning tops, and hammers on 4h chart at support. 12 & 6 hour look to be forming a bear flag. 3day tweezer top + bearish engulfing. Weekly tweezer top and bottom?!
Ichimoku Cloud: 6h is interesting. Currently at cloud + kijun support after failing to breakout. Recent bullish kumo twist. Recent TK cross on 12 hour, LS above price, Bearish cloud that the price failed to support. Price below cloud on weekly making it fully bearish.
TD Sequential: Weekly 9. Would have had a green 9 on daily if 7th candle closed $16 higher. Tells me the next 7 days should be bearish (in line with original projection) and then we could get a nice bounce off the weekly 9.
Visible Range: Huge gap from $4,800 - $5,500. Huge resistance up to $7,000. Slight relief until $7,775 then biggest resistance dating back 1 year.
50 & 200 MA’s (calculate % difference): X
BTC Price Spreadsheet: X
Bollinger Bands (1 week, 1 day, 4 hour): D: at MA, bands are tight. 3d: resisted right below MA. W: attempting to bounce off bottom band.
Trendline: Down: $7,450 Up: $5,000
Daily Trend: Bearish, and at support.
Fractals: Up: $6,841 Down: $5,786
On Balance Volume: Noticed that the range is getting tighter. Slapped on some BB’s and can start to see some similarities with 2016
Buy/Sell Sentiment on Trading View: RSI back below 45, stoch pulling back. All MA’s are sell except for volume weighted MA. MACD approaching 0.
Yesterday’s analysis: Weekly OBV div, Weekly TD countdown, 6 hour cloud, and moving average crossovers.
Horizontal support and resistance: S: $6,275 R: $6,377 | $6,560 | $6,660
BTCUSDSHORTS: Fitting into downward channel. Rebound didn’t test top end of channel. Instead it found resistance at 23,000. Hanging man forming. Looks like we will go for a retest of 20,000 at a minimum. Bearish cross on EMAs. Divergence in weekly long:short is significant and starting to angle back for convergence. Longs are high, shorts have room to rally. Also longs paying shorts. Div in 6 hour long:short ratio is as big as we have seen it in 2018
Funding Rates: Longs pay shorts 0.01%
EMA’s (12 & 26): Angling down. No longer posturing for bullish crossover.
MA crossovers: Bearish. After flattening out they are angling down and spread out indicating a continued bearish trend.
FIB’s: Currently bouncing off 0.382 and illustrates why we haven’t gotten to $5,00 yet.
Candlestick analysis: Spinning tops, and hammers on 4h chart at support. 12 & 6 hour look to be forming a bear flag. 3day tweezer top + bearish engulfing. Weekly tweezer top and bottom?!
Ichimoku Cloud: 6h is interesting. Currently at cloud + kijun support after failing to breakout. Recent bullish kumo twist. Recent TK cross on 12 hour, LS above price, Bearish cloud that the price failed to support. Price below cloud on weekly making it fully bearish.
TD Sequential: Weekly 9. Would have had a green 9 on daily if 7th candle closed $16 higher. Tells me the next 7 days should be bearish (in line with original projection) and then we could get a nice bounce off the weekly 9.
Visible Range: Huge gap from $4,800 - $5,500. Huge resistance up to $7,000. Slight relief until $7,775 then biggest resistance dating back 1 year.
50 & 200 MA’s (calculate % difference): X
BTC Price Spreadsheet: X
Bollinger Bands (1 week, 1 day, 4 hour): D: at MA, bands are tight. 3d: resisted right below MA. W: attempting to bounce off bottom band.
Trendline: Down: $7,450 Up: $5,000
Daily Trend: Bearish, and at support.
Fractals: Up: $6,841 Down: $5,786
On Balance Volume: Noticed that the range is getting tighter. Slapped on some BB’s and can start to see some similarities with 2016
Buy/Sell Sentiment on Trading View: RSI back below 45, stoch pulling back. All MA’s are sell except for volume weighted MA. MACD approaching 0.
emasar Indicator is available for purchase at alphanalysis.io/product/emasar/