Hello and thanks for reading my post!
As you can see we have the COINBASE BTC/USD chart displayed.
We are still correcting from the 40% candle we recently have had.
Few points to mention here that are interesting in bullish favors:
1. RSI (14) is showing us a trend with higher highs (HH) over and over again, which can be seen as a hidden bullish divergence.
2. We stopped dropping close to the critical area of confluence beginning at @~8400-8200$ and it seems that BTC is respecting this area, for now, which is a positive sign IMO.
3. We are forming a textbook falling wedge. (I would suggest you to google it if you don't know what I mean)
To end my short analysis:
If we can maintain this HH trajectory on the RSI + if Bitcoin manages to keep above the area of confluence, I'm pretty comfortable in opening long positions.
What are your thoughts?
Be safe, Be healthy, Be happy
Kami
As you can see we have the COINBASE BTC/USD chart displayed.
We are still correcting from the 40% candle we recently have had.
Few points to mention here that are interesting in bullish favors:
1. RSI (14) is showing us a trend with higher highs (HH) over and over again, which can be seen as a hidden bullish divergence.
2. We stopped dropping close to the critical area of confluence beginning at @~8400-8200$ and it seems that BTC is respecting this area, for now, which is a positive sign IMO.
3. We are forming a textbook falling wedge. (I would suggest you to google it if you don't know what I mean)
To end my short analysis:
If we can maintain this HH trajectory on the RSI + if Bitcoin manages to keep above the area of confluence, I'm pretty comfortable in opening long positions.
What are your thoughts?
Be safe, Be healthy, Be happy
Kami
Trade active:
Wow, we are trading right now at the decision zone.
HH trend is still in play as long as we reverse from here, could be the final dip
HH trend is still in play as long as we reverse from here, could be the final dip
KSC
