BTC 4hr-ly chart bullish bias confirmation.
BTC have successfully pierced above the 4 hourly 200 SMA (thick orange) line.
Ichimoku Cloud have finally turned green ahead (which could serve as a fresh support level at around the 20.2k USD level) after flipping bearish since ~20 Aug, but still remains thin (i.e. weak atm). Will need to wait awhile longer for it to thicken and "solidify".
Fusiongap 50/15 series indicator had already flipped bullish (i.e. green and above the zero-line).
The MACRS (MACD modulated RSI) indicator appears over-bought (i.e. red background, base on the unplotted STOCHs) at the moment though and will take a few more candles to resolve at this price level after the recent pump.
Ichimoku Cloud have finally turned green ahead (which could serve as a fresh support level at around the 20.2k USD level) after flipping bearish since ~20 Aug, but still remains thin (i.e. weak atm). Will need to wait awhile longer for it to thicken and "solidify".
Fusiongap 50/15 series indicator had already flipped bullish (i.e. green and above the zero-line).
The MACRS (MACD modulated RSI) indicator appears over-bought (i.e. red background, base on the unplotted STOCHs) at the moment though and will take a few more candles to resolve at this price level after the recent pump.
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Will now need to pierce above the green daily 50 SMA line, and find support above the thin yellow (presently resistance) line for a stronger bullish confirmation.
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Back above the 4hr-ly 200 SMA.
FG indicator flipped bullish again on the 4hrly.
FG indicator flipped bullish again on the 4hrly.
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Potential continuation to the upside if BTC could find support above ~USD20k, which is presently in confluence with the daily 50 SMA (green line).
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Presently trapped within a descending triangle:
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