garyreza

Are we going to see a reversal soon? - Part 2 ( continuation)

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
On the 12h chart we can see that
Bullish signs:
1) Stochastic was making higher lows for a while (last 4 lows numbered on the chart), while pricing was going down = Divergence.
2) We also see lower highs on DMI/ADX chart = Divergence.
Bearish signs:
1) Price is almost right below the previous support line (which after breaking it, its considered resistance now), and MA50. These two both can act as a strong resistance, together they are even stronger.
2) Vol is low and we see a decrease in Vol as price is increasing

Personally I believe on 12h chart the bearish sings are stronger than bullish ones
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