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#BTC Market Updates: 09/24/18

POLONIEX:BTCUSDT   Bitcoin / Tether USD
#BTC Market Updates

OUTLOOK: Bullish

Double Bottom Bullish Reversal confirmed on Friday, but follow-through has stalled.

Nevertheless, outlook Remains bullish while above neckline of 6600$.
Immediate resistance seen at 6970$.

UTC close below 6600$ would neutralize Bullish Outlook.



Playing into the wedge still, currently have a falling 'upward' Sell Setup on the 4 which is always a bit abnormal. Last saw the 'upward' Sell Countdown on the 11 of 13 2 days ago, so looking at the Fisher about to cross may indicate we are looking for Bullish price flip very soon. This would most likely test the wedge top, and before that even, test the Senkou B bottom line of the red resistance Kumo cloud, last tested the first week of September. but was rejected. The thinning pressure from said Kumo cloud may back up this movement potential.

The ADX is low as we are, for the most part trending sideways, and DMI is consolidating to a current crossing to become bearish most likely. Also, POC is below current price action, so another bit of a bearish indication that we could continue down, creating yet more wave action trading into the wedge , before any Bullish breakouts.

Overall we're seemingly Bullish here, like always, long as we continue positive sentiment and don't have any FUD freakouts haha. Trending into the wedge and overall consolidating for weeks now is pushing us into a squeeze, but will be get a upward breakout to catch back up to 7k levels? What do you think?

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Looking at the exact same chart, we are actually bearish : )

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@AlphaTradeZone, Yea I hear ya. Suppose I could specify I was talking more Bullish in sentiment, that we may just get bullish breakout from this consolidation wedge forming.

looking like we've tested Fib couple times, coinciding with the Senkou B test, but was in store for more build up currently. To be specific, I'd say we're pretty neutral at current seeing the up and downs, however I personally would say I'm feeling a bullish vibe in the air... :) And see a breakout upside possible, unless we get some big FUD news again and that knocks down for a bearish breakdown from the triangle. :(
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