Potential for transition to upward pressure in Near Term TFs
Near Term group of TF's (1d, 2d, 3d, 4d)
Daily White Energy won the "Race" against Red RSI in 2d. In other words the Energy in the 1d closed above 50 before the Red RSI in the 2d crossed below 50.
In the 2d, 3d & 4d the Red RSI is above 50.
Although we are currently still experiencing downward pressure, the Green MA is higher than the White Energy in the 2d, 3d & 4d. This means that when the White Energy crosses above 50 and the Green can stay higher, considering that the Red RSI is above 50, we are likely to transition to upward pressure. If the Green stays higher than the White Energy as it crosses above 50, we know that we are likely to see upward pressure until the White Energy crosses below 50. But as I said for now until this happens we wont see a significant rise in price action, in my opinion we may well see sideways action during the current period of downward pressure.
Trade safe
aBL
Daily White Energy won the "Race" against Red RSI in 2d. In other words the Energy in the 1d closed above 50 before the Red RSI in the 2d crossed below 50.
In the 2d, 3d & 4d the Red RSI is above 50.
Although we are currently still experiencing downward pressure, the Green MA is higher than the White Energy in the 2d, 3d & 4d. This means that when the White Energy crosses above 50 and the Green can stay higher, considering that the Red RSI is above 50, we are likely to transition to upward pressure. If the Green stays higher than the White Energy as it crosses above 50, we know that we are likely to see upward pressure until the White Energy crosses below 50. But as I said for now until this happens we wont see a significant rise in price action, in my opinion we may well see sideways action during the current period of downward pressure.
Trade safe
aBL
Comment:
Short term.
We are currently in a race between the Energy in the 90m & the Red RSI in the 3h.
The Energy in the 90m needs to close above 50 before the Red RSI in the 3h crosses below 50. The Energy needs to win the race for a chance of reversal to sustained upward pressure.
The Energy is higher than the Green in the 6h & 12h indicating downward pressure.
Near term.
The Red RSI has turned up and is above 50 in the daily, however nothing decisive happening with the indicators.
The Green MA is higher than the Energy in the near term group of timeframes indicating bullish sentiment.
So for now, no conclusive signal, however this group of timeframes is setting the scene for a potential reversal if the lower timeframes play ball...
We are currently in a race between the Energy in the 90m & the Red RSI in the 3h.
The Energy in the 90m needs to close above 50 before the Red RSI in the 3h crosses below 50. The Energy needs to win the race for a chance of reversal to sustained upward pressure.
The Energy is higher than the Green in the 6h & 12h indicating downward pressure.
Near term.
The Red RSI has turned up and is above 50 in the daily, however nothing decisive happening with the indicators.
The Green MA is higher than the Energy in the near term group of timeframes indicating bullish sentiment.
So for now, no conclusive signal, however this group of timeframes is setting the scene for a potential reversal if the lower timeframes play ball...
Comment:
Beginning to look bullish in short term tfs
Near Term
The Energy is higher than the Green but the Green has gone up strong with the Energy indicating a chance (if the Green can allow the Energy to drop below) of reversal. In the 3d the price action can come up at least to the BB basis currently at 94 sats. If the Green can cross above 50 in the 4d we could possibly make it up to the BB basis currently at 99 sats, however the Red RSI is a bit marginal hovering around level 20.
But potential looks good for a reversal...
This of course needs confirming in lower TFs
Near Term
The Energy is higher than the Green but the Green has gone up strong with the Energy indicating a chance (if the Green can allow the Energy to drop below) of reversal. In the 3d the price action can come up at least to the BB basis currently at 94 sats. If the Green can cross above 50 in the 4d we could possibly make it up to the BB basis currently at 99 sats, however the Red RSI is a bit marginal hovering around level 20.
But potential looks good for a reversal...
This of course needs confirming in lower TFs
Comment:
Still experiencing downward pressure. Indecision while DGB waits for BTC to decide to do something or nothing.
We are currently in a downward pressure race between the Energy in the 3h & the Red RSI in the 6h. Unless the Energy in the 3h closes above 50 before the Blue LSMA in the 6h crosses below 50 AND the Green is higher than the Energy in at least the 3 preceding halved TFs (45m, 23m & 12m) downward pressure will continue.
We are currently in a downward pressure race between the Energy in the 3h & the Red RSI in the 6h. Unless the Energy in the 3h closes above 50 before the Blue LSMA in the 6h crosses below 50 AND the Green is higher than the Energy in at least the 3 preceding halved TFs (45m, 23m & 12m) downward pressure will continue.
In the 2d,3d&4d the Green MA is still higher than the energy indicating bullish sentiment.
We need a bit more time to develop before we can infer any clear signals.