$BTC - #Bitcoin-Daily-Update #11 - Day Trader Explains

Hello Lads and Ladies,

Welcome back to TJ's TA sessions.- The Daily BTC Update

What happened in the last 24h?
The last 24 hours have been quite interesting and informative. We saw a nice breakout from the bullfrog on lower timeframes but as many times seen on bitcoin a clear rejection from the top and a dump back to where we started. Finally we are seeing a little more volume and indicators showing us clearer signs. Altcoins have been taking a day off from making significant moves and as we are seeing things evolve right now, it looks still like a small cool off from the pretty string days before. The iHnS is still very talked about and looking at this scuffed version we are sitting right on the verge of making a clear decision.

Most important S/R right now?
2939 3030 3100 3160 3200 3250 3333 3434 3550 3666 3730 3812 3929 4077 4123 4169 4382 4658

Gained lost %?
Since the opening of the new daily, we wicked down -1.59%, but gained 3.18%

MarketCap?
Total MarektCap is 136 Billion - gained 1 -
Of which BTC is 70 Billion - no change -
With a Dominance of 51.7%
- -0.2 -

Volatility?
The 30d avg Volatility is 4.31%
- -0.01 -

Shorts/Longs?
Shorts - 24.5k (pretty low)
Longs - 33.6k (high but solid)
- S +0.2 / L +0.5 -

Funding?
The last 3 funding rates added -> -0.0112%
- -0.0112 -

Momentum?
The TJ-Momentum is still blue and still rising above the 0 line, which is indicating us a bullish momentum and no change in the direction.

Volume?
Today, we saw yet again a bigger volume candle, while looking at the previous week. Currently while writing this the candle is still red, would be indicating us a negative movement with a higher volume, YET looking throughout the day we saw most of the volume in the higher prices not the lower ones.

TJ-MF/StochRSI levels?
TJ-MoneyFlow - As just mentioned on the volume section, the money flow is green today and showing us exactly that we had surely more buy than sell volume.
StochRSI
K(blue) - 88
D(orange) - 80

Divergences?
We are seeing RSI divergences on smaller timeframes like the 4h, yet not on small scale but from the last high above 4200 and todays high. Small scale divergences are causing the rejection from todays pump, if at all to be considered.

Market Structure?
On the daily timeframe bigs Cale inverted head and shoulders sitting right on the neckline and smaller scale still going by the bull-flag (with fake-outs).

Overall?
Overall, we are still on the uptrend, still bullish, still longing. We are still awaiting a decision and looking at a possible impulse move. TJ-Stoch is one day away from the 90 point line (which is the impulse move zone; mostly upwards). Sitting on the same line like yesterday, awaiting a nice big candle (an engulfing). The volume is rising and might still get a green candle in the last few minutes of the daily close, but even then it was quite a bullish day for Bitcoin. Altcoins seem to have a dragging effect on it as well, yet with a. little delay. We are looking to get to at least 4200 and see there what happens. We are as well seeing an increase in longs over the shorts, which is still confirming the bullishness for the next day as well.

What do we want?
Obviously we would love to see even with 1 dollar a green candle and get that nice volume confirmation on normal candles. We want to see tomorrow a nice pump as well towards the 4200 region and preferably pump through it. OR should we experience a small retrace in the whole market, we would love to see confirming the uptrend once more and closing above out yellow line at 3812$.

Position?
Still keeping the long position open and taking profits at 4240. Same stop loss as yesterday.

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Cheers, TJ