This is how you want to build a case on BTC finding a bottom within the green trend line. So we talked about it at length yesterday but today we can see that BTC has remained above that green trend line, if we close a candle today above it as you know that is a sign of strength. All BTC has to do is stay above $7200 today and $7250 to $7300 the day after and so on. There is a curious little spot on the chart that I want to point out; At $6515 BTC seems to have changed direction and it may not seem like it right now but i looks like the start of an uphill run. To be clear I do not think that this is a "Moon" run but I think that this is a likely place from which BTC can stage a challenge to the 50MA and ultimately the 200MA. That event is in the cards as long as BTC is under a major death cross, you can count on that.
This is a look at that spot I referenced in the 1D chart. I think the change in direction is more clear here on the 3D chart. I've circled it with cyan color.
So to make it simple, just keep watching BTC and the green trend line over the weekend, if it continues to run and close above it we can begin to formulate a plan accordingly. Please keep coming back to this post as it will be updated continuously. I will also drop off the live link to the 1D for easy following.
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NOW, THE LEGEND;
Support trend lines are green
Resistance trend lines are Red
Horizontal support lines are white, the thicker the stronger the support
50 Moving Average is yellow
200 Moving Average is white
THE TREND: Going Down but finding stability
THE OUTLOOK: Beginning to see the end of the downtrend a rally may be coming soon.
This is a look at that spot I referenced in the 1D chart. I think the change in direction is more clear here on the 3D chart. I've circled it with cyan color.
So to make it simple, just keep watching BTC and the green trend line over the weekend, if it continues to run and close above it we can begin to formulate a plan accordingly. Please keep coming back to this post as it will be updated continuously. I will also drop off the live link to the 1D for easy following.
VERY IMPORTANT: Hitting the "Like" button is like a tip, please don't forget to do so after reading, this is your way of paying me for my time.
Follow me and you'll know exactly which coins to buy and when to buy to maximize your profits.
NOW, THE LEGEND;
Support trend lines are green
Resistance trend lines are Red
Horizontal support lines are white, the thicker the stronger the support
50 Moving Average is yellow
200 Moving Average is white
THE TREND: Going Down but finding stability
THE OUTLOOK: Beginning to see the end of the downtrend a rally may be coming soon.
Comment:
Still good as long as we close at or above $7200 tonight.
Comment:
Still doing well but very volatile. BTC is walking up my trend line as predicted earlier this week.
Comment:
Where are we now? BTC was stopped by the 20MA and it is propped up by the 20MA on the 4 hour chart. If we close above the 200MA in the next 2 hours we keep moving up and keep conquering more hurdles. The goal? The 200MA on the 1D.
