Hi everyone
to day I want to give you different view in longer time frames. then we can make a conclusion of what BTC the next move could be
if you follow my last TA on BTC the last update on 4H chart is still validate.
Daily chart.........................................
the yellow area on my chart shows BTC should make decision to go up or down in next 10 days. the volume is getting lower and lower
it could be a sign of big movement in either way for next week or 10 days when the new month begins.
MACD tends for negative side. the conversion line is below our baseline of ICHIMOKU. those are negative signs for more declining.
the positive signs on the other hand is still the price upon the cloud and 50 EMA(orange line).
Weekly chart......................................
the Kijun-sen of ichmoku is absolute below our 50 EMA(orange line) that means the price doesn't have strength enough to keep moving upward.
but may change in near future. so better wait to see what is the next move of our baseline.at the same time the volume keeps low forming.
the only positive sign is that the price still upon the cloud and for next week we may see it push the price more upward but as I said it doesn't have
strong volume to keep moving up
Monthly chart.....................................
the red doji candle doesn't give me good sign for bulls. we still below monthly cloud. MACD is in neutral shape.the tenken sen(conversion line in blue)
is below our baseline(kijun sen). those all are not good sign for bulls.though 10 days left for the candle to close but if there is no change from bulls we
may see the bears can get the control of the price for next month.at least we may face for keep consolidation that could take longer than we expect.
The conclusion...................................
it is really hard to make my mind for a solid conclusion when the market gives you different signals from different time frames on the chart.
in 4H, and monthly chart I can see the bears are getting more strength. in daily and weekly chart we may have a chance that bulls can keep up but too fragile.
less than 48 hours left the weekly candle close. so I will wait to see what would happen in new week.
Don't forget being patience is the main key
Enjoy the market
to day I want to give you different view in longer time frames. then we can make a conclusion of what BTC the next move could be
if you follow my last TA on BTC the last update on 4H chart is still validate.
Daily chart.........................................
the yellow area on my chart shows BTC should make decision to go up or down in next 10 days. the volume is getting lower and lower
it could be a sign of big movement in either way for next week or 10 days when the new month begins.
MACD tends for negative side. the conversion line is below our baseline of ICHIMOKU. those are negative signs for more declining.
the positive signs on the other hand is still the price upon the cloud and 50 EMA(orange line).
Weekly chart......................................
the Kijun-sen of ichmoku is absolute below our 50 EMA(orange line) that means the price doesn't have strength enough to keep moving upward.
but may change in near future. so better wait to see what is the next move of our baseline.at the same time the volume keeps low forming.
the only positive sign is that the price still upon the cloud and for next week we may see it push the price more upward but as I said it doesn't have
strong volume to keep moving up
Monthly chart.....................................
the red doji candle doesn't give me good sign for bulls. we still below monthly cloud. MACD is in neutral shape.the tenken sen(conversion line in blue)
is below our baseline(kijun sen). those all are not good sign for bulls.though 10 days left for the candle to close but if there is no change from bulls we
may see the bears can get the control of the price for next month.at least we may face for keep consolidation that could take longer than we expect.
The conclusion...................................
it is really hard to make my mind for a solid conclusion when the market gives you different signals from different time frames on the chart.
in 4H, and monthly chart I can see the bears are getting more strength. in daily and weekly chart we may have a chance that bulls can keep up but too fragile.
less than 48 hours left the weekly candle close. so I will wait to see what would happen in new week.
Don't forget being patience is the main key
Enjoy the market
Comment:
update for 1H chart. price movement could be like that if BTC holds short term support area
Comment:
we may have more consolidation hours till the price get to the head of the wedge
then has to decide where to move
then has to decide where to move
Comment:
If BTC keep closing below 9340 the next destination is in short term interested area on the green box I drew on the chart.
