UnknownUnicorn4304403

Bitcoin 1 day chart 11/12/2019

BINANCE:BTCUSDT   Bitcoin / TetherUS
Good morning everyone. This morning I am taking a look at the 1 day time frame and noticing we have been stuck in the daily cloud for the last 18 days. We did try to make a break for it and inch our way out of the top of the cloud a few days ago but it sucked us right back inside. This is the reason I use the cloud due to its reliability. We happen to be testing the bottom of this cloud and the bottom of the cloud goes down quite a bit very soon to 7900. After that the cloud ultimately thins out and we should likely exit the cloud before we reach that area. But when we exit it may be below the daily cloud which is bearish. That 50 MA on the chart may prevent us from testing that 7900 mark but only time will tell. Bolinger bands are finally tightening up on the daily which may lead us to increased volatility. RSI is not very telling at this time and could support a move either way. Daily volume is sitting at $18,022,584,658 which is decent. Being under the 200 MA is not a good place to be but this is BTC, and it can surprise us all. But WTFDIK?
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