BITCOIN: STEVE NISON PB&J STRATEGY - BULLISH OBSERVATIONS
STEVE NISON: PULLBACK TO SWEET SPOT STRATEGY (PB&J)*
BUY BETWEEN SMMA 6 & EMA 30
OBSERVATION SHOWS THAT DEMAND BETWEEN THESE MOVING AVERAGES IS STRONG.
YOU CAN OBSERVE THIS IN THE FORM OF LOWER SHADOWS AND
BULLISH REVERSAL CANDLESTICK PATTERNS.
* ORIGINAL SMMA 10 MODIFIED TO MATCH MARKET CONDITIONS
BUY BETWEEN SMMA 6 & EMA 30
OBSERVATION SHOWS THAT DEMAND BETWEEN THESE MOVING AVERAGES IS STRONG.
YOU CAN OBSERVE THIS IN THE FORM OF LOWER SHADOWS AND
BULLISH REVERSAL CANDLESTICK PATTERNS.
* ORIGINAL SMMA 10 MODIFIED TO MATCH MARKET CONDITIONS
Comment:
31D
TD resistance was obviously painted on the chart and profit at/above this level was to be expected.
1W
The super scary Doji was Demand+FOMO+Distribution on 31D TD resistance. Simple. The three candlestick pattern which was painting was the scary Evening Star bearish reversal. What has so far occured is that this panic was absolutely bought. This is the antithesis of bearish behavior. This is profit taking and accumulation.
3D
No comment.
1D
THREE Steve Nison trading strategies show a bullish outlook. First of all we have:
1) Crack & Snap: Price cracked 1M Dark Cloud Cover support by 3% and price snapped back up above it on high volume, forming a Hammer. This is Steve Nison's favorite candlestick pattern.
2) PB&J (Pull Back to Sweet Spot): The Crack & Snap buying occured within the MA Sweet Spot (SMMA 6, EMA 30) which time and again has proven successful through this bull market.
3) Trading the 9: Bitcoin is currently trading above MA 9. This is bullish, plain and simple.
1D Stochastic RSI is illustrative of the strength of and bullish outlook of the developing up swing.
Potential Targets:
13,099
15,000
17,150
19,800
22,575