Further to previous analysis - see related ideas - we have seen some solid growth.
Near Term group of timeframes: (1d, 2d, 3d, 4d)
The Green EMA is higher than the Energy in all this group of timeframes indicating bullish sentiment. In the daily - usually when the Red RSI closes making contact with the Green as its falling, we would expect the Energy to fall below 50 at the start of the next candle, however this was not the case as the Green EMA immediately turned back up and the Energy now sits at level 51. Considering the fact that the Energy is still high in the 2d (85.4) and still rising and that the Red RSI has crossed bullish above the Blue LSMA and continue to rise in concert, it is my opinion that the Energy in the daily may only just dip below 50 slightly before turning back up. The Red RSI has also crossed bullish above the Blue LSMA in the 3d & 4d and the Energy is rising in both timeframes. As we would expect with the Green EMA rising well above 50 as well as the Red RSI & Blue LSMA the price action is sitting with the candle bodies predominantly between the Aqua/Orange upper Bollinger Bands and wicking up to the Red upper. Based on the turning up of the Blue LSMA we have seen a considerable expansion of the BBs and as a result the price action is accelerating to the upside while remaining between the Aqua/Orange upper BBs.
Mid Term group of timeframes (3d, 6d, 9d, 12d)
The Green EMA is also higher than the Energy in all this group of timeframes and the Energy is above 50 and rising. This is a really good indication of endurance.
Short Term group of timeframes ( 90m, 3h, 6h, 12h)
We cannot ignore the Energy being higher than the Green EMA in the 90m & 3h as this is an indication of downward pressure. That having been said, we have seen upward pressure cascade up from lower timeframes and at some point during transition we will see the Green EMA rise strongly with the Energy as is the case with these timeframes, we can already see the Green EMA begin to move out to the side, potentially allowing the Energy to fall below. In the 90 we can also see that the Red RSI has turned up and crossed strongly above level 50 after a bullish cross above the Blue LSMA, the Blue LSMA has also turned up and is heading decisively toward level 50, if it continues and crosses level 50 we are likely to see the Bollinger Bands expand and the price action sit predominantly between the Aqua/Orange upper BBs. In the 3h we have also seen the Red RSI cross bullish above the Blue LSMA as well as crossing above 50, the Blue LSMA looks as though it could be beginning to turn up. If it does we can see the price action rise up between the Aqua/Orange upper BBs. In the 6h the Red RSI and Blue LSMA have made contact with the Green EMA as it rises, if we close like this in 2.5 hours we should see the Energy cross above 50 at the start of the following candle.
We have to bear in mind the following before we can fully confirm sustained upward pressure.
When the Red RSI fell below 50 in the 6h a downward pressure race was triggered. In order for upward pressure to resume, we first need to see the Energy in the daily CLOSE above 50 in the 6h before the Red RSI in the 12h CROSSES below 50. If the Energy does win the race, we need to see the Green MA higher than the Energy in at least the three preceding halved timeframes from the timeframe in which the race was triggered. If the Red RSI wins we then have a race between the Energy in the 12h and the Red RSI in the daily etc. This downward pressure race has cascaded up from lower TFs. Until the Energy decisively wins the race, we cannot conclusively confirm sustained upward pressure.
In summary:
The outlook is looking pretty bullish for BTSUSD, we would like to see the Green EMA move above the Energy in the 90 and 3h and for the Energy to win the downward pressure race (as I expect is likely) in the 6h. We also want to see the Blue LSMA and Red RSI turn back up in the 6h, but this pair in my opinion is looking pretty bullish.
Please see previous analysis in related ideas below
As mentioned in previous publications, these markets can change with very little notice. These changes initially manifest themselves in the lower timeframes and propagate up through the timeframes. Nothing is set in stone. Unless you are day trading, you cannot benefit from these early warning signals.
As always - this is not financial advice but just my view of current market dynamics.
One has to be aware that analyses are done on the basis of what the indicators are saying at the time and things can change. It is important to always monitor the scalping group of timeframes as we will see changes propagate up from there.
If you got value from this analysis, please hit the like button
Trade safe
aBL
Short term
Near Term group of timeframes: (1d, 2d, 3d, 4d)
The Green EMA is higher than the Energy in all this group of timeframes indicating bullish sentiment. In the daily - usually when the Red RSI closes making contact with the Green as its falling, we would expect the Energy to fall below 50 at the start of the next candle, however this was not the case as the Green EMA immediately turned back up and the Energy now sits at level 51. Considering the fact that the Energy is still high in the 2d (85.4) and still rising and that the Red RSI has crossed bullish above the Blue LSMA and continue to rise in concert, it is my opinion that the Energy in the daily may only just dip below 50 slightly before turning back up. The Red RSI has also crossed bullish above the Blue LSMA in the 3d & 4d and the Energy is rising in both timeframes. As we would expect with the Green EMA rising well above 50 as well as the Red RSI & Blue LSMA the price action is sitting with the candle bodies predominantly between the Aqua/Orange upper Bollinger Bands and wicking up to the Red upper. Based on the turning up of the Blue LSMA we have seen a considerable expansion of the BBs and as a result the price action is accelerating to the upside while remaining between the Aqua/Orange upper BBs.
Mid Term group of timeframes (3d, 6d, 9d, 12d)
The Green EMA is also higher than the Energy in all this group of timeframes and the Energy is above 50 and rising. This is a really good indication of endurance.
Short Term group of timeframes ( 90m, 3h, 6h, 12h)
We cannot ignore the Energy being higher than the Green EMA in the 90m & 3h as this is an indication of downward pressure. That having been said, we have seen upward pressure cascade up from lower timeframes and at some point during transition we will see the Green EMA rise strongly with the Energy as is the case with these timeframes, we can already see the Green EMA begin to move out to the side, potentially allowing the Energy to fall below. In the 90 we can also see that the Red RSI has turned up and crossed strongly above level 50 after a bullish cross above the Blue LSMA, the Blue LSMA has also turned up and is heading decisively toward level 50, if it continues and crosses level 50 we are likely to see the Bollinger Bands expand and the price action sit predominantly between the Aqua/Orange upper BBs. In the 3h we have also seen the Red RSI cross bullish above the Blue LSMA as well as crossing above 50, the Blue LSMA looks as though it could be beginning to turn up. If it does we can see the price action rise up between the Aqua/Orange upper BBs. In the 6h the Red RSI and Blue LSMA have made contact with the Green EMA as it rises, if we close like this in 2.5 hours we should see the Energy cross above 50 at the start of the following candle.
We have to bear in mind the following before we can fully confirm sustained upward pressure.
When the Red RSI fell below 50 in the 6h a downward pressure race was triggered. In order for upward pressure to resume, we first need to see the Energy in the daily CLOSE above 50 in the 6h before the Red RSI in the 12h CROSSES below 50. If the Energy does win the race, we need to see the Green MA higher than the Energy in at least the three preceding halved timeframes from the timeframe in which the race was triggered. If the Red RSI wins we then have a race between the Energy in the 12h and the Red RSI in the daily etc. This downward pressure race has cascaded up from lower TFs. Until the Energy decisively wins the race, we cannot conclusively confirm sustained upward pressure.
In summary:
The outlook is looking pretty bullish for BTSUSD, we would like to see the Green EMA move above the Energy in the 90 and 3h and for the Energy to win the downward pressure race (as I expect is likely) in the 6h. We also want to see the Blue LSMA and Red RSI turn back up in the 6h, but this pair in my opinion is looking pretty bullish.
Please see previous analysis in related ideas below
As mentioned in previous publications, these markets can change with very little notice. These changes initially manifest themselves in the lower timeframes and propagate up through the timeframes. Nothing is set in stone. Unless you are day trading, you cannot benefit from these early warning signals.
As always - this is not financial advice but just my view of current market dynamics.
One has to be aware that analyses are done on the basis of what the indicators are saying at the time and things can change. It is important to always monitor the scalping group of timeframes as we will see changes propagate up from there.
If you got value from this analysis, please hit the like button
Trade safe
aBL
Short term
Scalping Group of TFs
Short Term Group of TFs