garyreza
Long

Higher lows for the first time since December?????????????

BITMEX:XBT   Bitcoin / US Dollar Index
With stochastic being so low, and TDseq showing perfect candle #9 sitting at an important support, followed by a good green candle with acceptable Volume we can hope for a higher lows formation (based on closing daily price, for the first time since Dec that the downtrend started. If price can keep going up and breaking the $6800 are this will happen, and we might finally see higher highs, which will be a huge confirmation of the rally starting and fresh money coming in probably!!! If price cant pass ~$6800 it can go down to below $6000, not that it would happen for sure if price cant pass ~$6800 but there is chance of this happening.

Educational: TDseq indicator gives candles numbers, and indicates the trend, red numbers for downtrend and green for uptrends. Look at the previous rally and downtrend we had! Yep, almost a perfect 1-9 counting in both uptrend and downtrend, indicating that happened so fast, and there was such a strong trend. To me having a strong uptrend, even minor, followed by a strong downtrend, doesn't seem to be normal. I believe there is a mix of manipulation and emotions (FOMO and Panic sell), this helps to get rid of emotional investors (referred to as weak hands) which helps to have a healthy rally in the future.

So the most important thing right now is if the price can break ~$6800 area and stay above it or not.

Remember that "The stock market is a device for transferring money from the impatient to the patient."
Garyreza (@Analytca)
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