Looking at the short term group of timeframes (90m, 3h, 6h, 12h)
We can see that the Green is higher than the Energy in all this group of timeframes indicating bullish sentiment.
We can start seeing early signs of forming an upward trend after a long consolidation period. In the 90 the Red RSI has closed making contact with the Green MA as it rises. As the Red RSI & Blue LSMA are above level 50 we can see potential for the price action to make its way up between the Aqua/Orange upper Bollinger Bands. (currently $122 & $124.4 and rising). In the 3h although the Red RSI has made contact with the Green as it falls, we can see the Green wants to turn back up, if the Red RSI can also turn back, we can see a case for continuation of the start of a period of upward pressure. However, we can easily see a small dip in upward pressure playing out in these timeframes beforehand. In my opinion, in the spirit of continuation of an upward trend this will manifest itself as a higher low in the 6h timeframe before we move up to a higher high.
These transitions to upward pressure tend to start in the scalping group of TFs and propagate up. We can already see the Green is higher than the Energy in all these TFs apart from the 45 where it looks like the Green can come out to the side to allow for the Energy to fall below.
I will try and catch up with a more detailed analysis shortly.
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.
Trade safe
aBL
Short Term TFs
We can see that the Green is higher than the Energy in all this group of timeframes indicating bullish sentiment.
We can start seeing early signs of forming an upward trend after a long consolidation period. In the 90 the Red RSI has closed making contact with the Green MA as it rises. As the Red RSI & Blue LSMA are above level 50 we can see potential for the price action to make its way up between the Aqua/Orange upper Bollinger Bands. (currently $122 & $124.4 and rising). In the 3h although the Red RSI has made contact with the Green as it falls, we can see the Green wants to turn back up, if the Red RSI can also turn back, we can see a case for continuation of the start of a period of upward pressure. However, we can easily see a small dip in upward pressure playing out in these timeframes beforehand. In my opinion, in the spirit of continuation of an upward trend this will manifest itself as a higher low in the 6h timeframe before we move up to a higher high.
These transitions to upward pressure tend to start in the scalping group of TFs and propagate up. We can already see the Green is higher than the Energy in all these TFs apart from the 45 where it looks like the Green can come out to the side to allow for the Energy to fall below.
I will try and catch up with a more detailed analysis shortly.
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.
Trade safe
aBL
Short Term TFs
Comment:
Update to previous post.
Just really keeping an eye on this pair.
In the scalping group of TFs we can see bullish sentiment reflected by the position of the Green MA above the Energy in all TFs of this group. Red RSI and Blue LSMA now above level 50, again in all TFs, we can see a bit of noise in the 12 & 23 indicating a bit of indecision.
Short term TFs generally showing potential for a move to upward pressure, we have seen the price action in the 90 move to the proximity of the BB basis, the Red RSI and Blue LSMA have turned up, if they can cross above 50 we can see the price action moving upt to the White/Aqua upper initially. However for now we need to be aware that the Energy is above the Green and likely to result in a lower high. In the 3h we have seen the Red RSI dip below 50 which has triggered a downward pressure race. When the Red RSI fell below 50 in the 3h the downward pressure race was triggered. In order for upward pressure to resume, we first need to see the Energy in the 3h CLOSE above 50 before the Red RSI in the 6h 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 preceding three preceding halved timeframes from the timeframe in which the race was triggered. This is currently not the case. However if we can close in just under an hour while the Red RSI and the Blue LSMA are still making contact with the Green as it rises and we can win the race we do have a fighting chance. Particularly as the Red RSI has made contact in the 6h with the Green as it rises and the 6h candle will close simultaneously with the 3h. The next candle should see the Energy rise above 50 in both the 3h and 6h. If this happens there is a good chance that the Green can turn back up in the 12h.
In the Near Term group of TFs
Although the Green is higher than the Energy in the daily and 4d, this is not the case in the 2d & 3d. The Red RSI and Blue LSMA are however crossing above 50 simultaneously in the 2d and the Green MA is trying to come out to the side in the 2d & 3d. If BTC continues to hover around 40k for a bit, we are likely to see the price action for DASHUSD to go sideways which will set the scene for the above scenario. If we can then see a close in the 3d with the Red RSI above 50 we may well see upward pressure for the next 1-2 3d candles until the Energy in the 3d exhausts and drops back to 50, it is currently still rising.
To summarise:
We are seeing some good signs and potential supporting a case for a period of upward pressure, however no clear and decisive signals currently to justify opening a long position at this point.
As always we continue to monitor lower timeframes.
Just really keeping an eye on this pair.
In the scalping group of TFs we can see bullish sentiment reflected by the position of the Green MA above the Energy in all TFs of this group. Red RSI and Blue LSMA now above level 50, again in all TFs, we can see a bit of noise in the 12 & 23 indicating a bit of indecision.
Short term TFs generally showing potential for a move to upward pressure, we have seen the price action in the 90 move to the proximity of the BB basis, the Red RSI and Blue LSMA have turned up, if they can cross above 50 we can see the price action moving upt to the White/Aqua upper initially. However for now we need to be aware that the Energy is above the Green and likely to result in a lower high. In the 3h we have seen the Red RSI dip below 50 which has triggered a downward pressure race. When the Red RSI fell below 50 in the 3h the downward pressure race was triggered. In order for upward pressure to resume, we first need to see the Energy in the 3h CLOSE above 50 before the Red RSI in the 6h 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 preceding three preceding halved timeframes from the timeframe in which the race was triggered. This is currently not the case. However if we can close in just under an hour while the Red RSI and the Blue LSMA are still making contact with the Green as it rises and we can win the race we do have a fighting chance. Particularly as the Red RSI has made contact in the 6h with the Green as it rises and the 6h candle will close simultaneously with the 3h. The next candle should see the Energy rise above 50 in both the 3h and 6h. If this happens there is a good chance that the Green can turn back up in the 12h.
In the Near Term group of TFs
Although the Green is higher than the Energy in the daily and 4d, this is not the case in the 2d & 3d. The Red RSI and Blue LSMA are however crossing above 50 simultaneously in the 2d and the Green MA is trying to come out to the side in the 2d & 3d. If BTC continues to hover around 40k for a bit, we are likely to see the price action for DASHUSD to go sideways which will set the scene for the above scenario. If we can then see a close in the 3d with the Red RSI above 50 we may well see upward pressure for the next 1-2 3d candles until the Energy in the 3d exhausts and drops back to 50, it is currently still rising.
To summarise:
We are seeing some good signs and potential supporting a case for a period of upward pressure, however no clear and decisive signals currently to justify opening a long position at this point.
As always we continue to monitor lower timeframes.
Comment:
The Energy in the 3h won the race indicating that we potentially have conditions for a reversal to sustained upward pressure. As we like to see, the Green has gone up strong with the Energy and is now higher. The Green is higher than the Energy in all the scalping group of TFs indicating bullish sentiment. The final confirmation of reversal to upward pressure would be if the Green can come out to the side in the 90 to allow the Energy to fall below and for the Red RSI to remain above 50. If we can also see the Blue LSMA cross above 50 (currently 48.7) the Bollinger Bands may expand and the price action could reside between the Aqua/Orange upper BBs for the most part.
In summary:
In my opinion we have a good chance continuing with this reversal to sustained upward pressure.
Trade safe
aBL
In summary:
In my opinion we have a good chance continuing with this reversal to sustained upward pressure.
Trade safe
aBL
Comment:
Just a quick update further to previous analysis.
As we can see DASH did indeed break its long consolidation pretty convincingly. So what now?
As we know from last run, DASH can just keep going and can also be pretty independent, so it doesn't necessarily retain its correlation to Bitcoin.
I have to point out as previously 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. Unless you are day trading, you cannot benefit from these early warning signals. I also cannot provide constant updates because I simply don't have time. As a result if anybody opens a position, please do not rely on me to provide signals to close.
Looking at the Mid Term group of timeframes: 3d, 6d, 9d, 12d.
In the 3d the Energy is currently marginally higher than the Green EMA but this can easily change, in all other TFs in this group, The Green is higher than the Energy indicating bullish sentiment. Looking at the 3d, the Red RSI is above 70 now as a result we are likely to see a continuation of upward pressure until the Energy exhausts and drops to level 50. In my opinion we are likely to see at least another two 3d candles after the current one before this happens.
In the Near Term group of TFs: 1d, 2d, 3d, 4d:
The Green EMA is higher then the Energy in the daily and 2d indicating bullish sentiment. In the 3d & 4d the Energy is marginally higher, it is however my opinion that the Green will imminently get higher, confirming bullish sentiment in this group of TFs.
It looks like upward pressure is likely to continue for a while based on the Energy levels in these TFs.
In the Short Term group of TFs: 90, 3h, 6h, 12h:
We are looking bullish too with the Green higher than the Energy throughout and the Red RSI & Blue LSMA above 50 in all TFs in the group.
In the Scalping Group of TFs 6, 12, 23, 45:
The Green is higher than the Energy in all the TFs in this Group, and although the Red RSI has closed in the 6 & 12 making contact with the Green, the Green has turned up in the 6 and looks as though it wants to in the 12. Even if we do see a period of downward pressure in this group, it is likely to be brief due to the upward pressure we are seeing in the higher TFs. Also bear in mind that downward pressure does not necessarily mean downward price action. We can expect sideways at best downwards at worst.
In Summary:
Although there will be some brief dips, it is my opinion based on what the indicators are currently telling me that we are likely to see a continuation of upward pressure potentially until the last week in February, we will need to re-assess then. We could see the price action go down to the BB basis briefly in the 6m currently $251, if the Green goes below 50 in the 12 we could drop to the vicinity of the BB basis in that TF too currently $236 (but rising) and similarly in the 23m currently $226 and rising. But the Green EMA would need to close below 50 for this to happen in any of the TFs and I believe it would quickly recover.
If you found value from these publications please hit the like button
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.
Trade safe
aBL
As we can see DASH did indeed break its long consolidation pretty convincingly. So what now?
As we know from last run, DASH can just keep going and can also be pretty independent, so it doesn't necessarily retain its correlation to Bitcoin.
I have to point out as previously 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. Unless you are day trading, you cannot benefit from these early warning signals. I also cannot provide constant updates because I simply don't have time. As a result if anybody opens a position, please do not rely on me to provide signals to close.
Looking at the Mid Term group of timeframes: 3d, 6d, 9d, 12d.
In the 3d the Energy is currently marginally higher than the Green EMA but this can easily change, in all other TFs in this group, The Green is higher than the Energy indicating bullish sentiment. Looking at the 3d, the Red RSI is above 70 now as a result we are likely to see a continuation of upward pressure until the Energy exhausts and drops to level 50. In my opinion we are likely to see at least another two 3d candles after the current one before this happens.
In the Near Term group of TFs: 1d, 2d, 3d, 4d:
The Green EMA is higher then the Energy in the daily and 2d indicating bullish sentiment. In the 3d & 4d the Energy is marginally higher, it is however my opinion that the Green will imminently get higher, confirming bullish sentiment in this group of TFs.
It looks like upward pressure is likely to continue for a while based on the Energy levels in these TFs.
In the Short Term group of TFs: 90, 3h, 6h, 12h:
We are looking bullish too with the Green higher than the Energy throughout and the Red RSI & Blue LSMA above 50 in all TFs in the group.
In the Scalping Group of TFs 6, 12, 23, 45:
The Green is higher than the Energy in all the TFs in this Group, and although the Red RSI has closed in the 6 & 12 making contact with the Green, the Green has turned up in the 6 and looks as though it wants to in the 12. Even if we do see a period of downward pressure in this group, it is likely to be brief due to the upward pressure we are seeing in the higher TFs. Also bear in mind that downward pressure does not necessarily mean downward price action. We can expect sideways at best downwards at worst.
In Summary:
Although there will be some brief dips, it is my opinion based on what the indicators are currently telling me that we are likely to see a continuation of upward pressure potentially until the last week in February, we will need to re-assess then. We could see the price action go down to the BB basis briefly in the 6m currently $251, if the Green goes below 50 in the 12 we could drop to the vicinity of the BB basis in that TF too currently $236 (but rising) and similarly in the 23m currently $226 and rising. But the Green EMA would need to close below 50 for this to happen in any of the TFs and I believe it would quickly recover.
If you found value from these publications please hit the like button
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.
Trade safe
aBL
Comment:
Just to clarify, I am not suggesting that anyone opens a long position, this is more an idea of my opinion as to how long we are likely to see upward pressure continue.
Comment:
Just a quick update,
In the 6m, as suggested, the price action went down to the BB basis, the Red RSI has just closed below 50 too and as a result, we are at risk of the price action going down to the White/Aqua lower, in the 12m the Green EMA has crossed below 50 - if we do close in 10m with the Green below 50, as the Red RSI is below level 80 we have a chance for the price action to go down to the proximity of the BB basis (currently $241.39 and rising) however the Green is turning up and looks as though it may well not close below 50. Also when the Red RSI crossed below 50 in the 6m a downward pressure race was triggered.
When the Red RSI fell below 50 in the 6m a downward pressure race was triggered. In order for upward pressure to resume, we first need to see the Energy in the 6m CLOSE above 50 before the Red RSI in the 12 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 preceding 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 12 and the Red RSI in the 23 etc.
In the 6m, as suggested, the price action went down to the BB basis, the Red RSI has just closed below 50 too and as a result, we are at risk of the price action going down to the White/Aqua lower, in the 12m the Green EMA has crossed below 50 - if we do close in 10m with the Green below 50, as the Red RSI is below level 80 we have a chance for the price action to go down to the proximity of the BB basis (currently $241.39 and rising) however the Green is turning up and looks as though it may well not close below 50. Also when the Red RSI crossed below 50 in the 6m a downward pressure race was triggered.
When the Red RSI fell below 50 in the 6m a downward pressure race was triggered. In order for upward pressure to resume, we first need to see the Energy in the 6m CLOSE above 50 before the Red RSI in the 12 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 preceding 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 12 and the Red RSI in the 23 etc.
Comment:
The Green EMA is very close to 50 in the 23m, if we close with the Green below 50 we are at risk of the price action going down to the proximity of the White upper BB. It is unlikely to go down to the basis unless the Red RSI falls below 80 in this TF.
These updates are solely indications of what could happen in the lower TF, it does not change the fact that we still have potential for continuation of significant upward pressure in the higher TFs. But as previously stated, we need to constantly monitor these TFs
These updates are solely indications of what could happen in the lower TF, it does not change the fact that we still have potential for continuation of significant upward pressure in the higher TFs. But as previously stated, we need to constantly monitor these TFs
To summarise:
The scene is set and the indications support more of a case for upward pressure but we are still indicisive and need to monitor the scalping group of timeframes for a more convincing transition - so in my view we have good potential but are not quite there yet.