Bitcoin has been on a downward trend since recent breakdown. Has been moving in parallel channel. Breakdown early this morning (my time) to 19300 with a quick bounce back up off support.
Likely to continue within this range possibly testing the high and low of channel / atleast 19500 to the downside.
On CME 6 hour stochasitc is turning up above 19460 which it closed above on end of week trading.
4 hour stochastic is turning up just above 19500ish
2 hour is turning up above 19538
1 hr turning up anywhere above 19530 - All of these bitcoin is currently trading above.
What does this mean?
Also there is some hidden bullish divergence on the 4hr RSI (nothing too significant) Possibly a bounce to start the week. Nothing is significant as long as we remain below the recent breakdown at 20500 - and then likely more moves to the downside playing into the higher term time frames. Areas of interest there are obviously breaks of supports at 19000 and then 18500.
Goodluck guys
Likely to continue within this range possibly testing the high and low of channel / atleast 19500 to the downside.
On CME 6 hour stochasitc is turning up above 19460 which it closed above on end of week trading.
4 hour stochastic is turning up just above 19500ish
2 hour is turning up above 19538
1 hr turning up anywhere above 19530 - All of these bitcoin is currently trading above.
What does this mean?
Also there is some hidden bullish divergence on the 4hr RSI (nothing too significant) Possibly a bounce to start the week. Nothing is significant as long as we remain below the recent breakdown at 20500 - and then likely more moves to the downside playing into the higher term time frames. Areas of interest there are obviously breaks of supports at 19000 and then 18500.
Goodluck guys