Heikin Ashi:
- Our sixth red Heikin Ashi candle, with long lower shadow, but closed with real small body and also a real small upper shadow.
- The low of last week at $6425 went below the previous low from 4 weeks prior. We didn't close below our weekly pivot level at $6550 but actually bounced from that region.
- I understand the bullish sentiment right now, but I want to make sure that on the weekly chart we haven't flipped the trend just yet.
- We first need to paint at least one but preferably 2 green HA candles, and we would like to see a confirmation of our indicators flashing bullish by a MACD bull cross and our RSI move away from dotted trendline. The weekly HA candles should also start building slowly higher highs and not trade below prior weeks low.
- We are also still inside this channel where we eventually will test the boundaries again
Indicators:
- IchiEMA did not gave any new signal on weekly
- MACD bull cross not in sight yet
- RSI still respects the long trendline, last week still closed below dotted trends but curling and wants to be above.
- Our sixth red Heikin Ashi candle, with long lower shadow, but closed with real small body and also a real small upper shadow.
- The low of last week at $6425 went below the previous low from 4 weeks prior. We didn't close below our weekly pivot level at $6550 but actually bounced from that region.
- I understand the bullish sentiment right now, but I want to make sure that on the weekly chart we haven't flipped the trend just yet.
- We first need to paint at least one but preferably 2 green HA candles, and we would like to see a confirmation of our indicators flashing bullish by a MACD bull cross and our RSI move away from dotted trendline. The weekly HA candles should also start building slowly higher highs and not trade below prior weeks low.
- We are also still inside this channel where we eventually will test the boundaries again
Indicators:
- IchiEMA did not gave any new signal on weekly
- MACD bull cross not in sight yet
- RSI still respects the long trendline, last week still closed below dotted trends but curling and wants to be above.
- Little moment of silence, BTC printed it's first green Heikin Ashi indecision candle after 6 weeks of red candles!
- BTC price didn't trade below prior week low and for the first time in 9 weeks price traded above prior weeks high!
- This is a very first sign of a possible trend reversal. A HA color flip on the weekly is very significant and thats what I wanted to see if you read my previous updates.
- h0dl indicator on the chart shows last weekly low at $7052
Let's take a look at the indicators.
Indicators:
- MACD bull cross not in sight yet, although Histogram bars getting closer to midline, meaning delta between 2 MACD lines getting smaller, and so getting closer to cross.
- RSI still respects the long trendline, with last weeks BTC price close, we crossed above again.