BTC Potential Long Setup
My reasoning is:
-ADX is reaching a common reversal point, while DI+ is weakening giving bias towards a change in the trending behaviour.
-Stoch has crossed down and will remain so anywhere under 27600(approx.)
-MACD is showing divergance as this last drive has not had the same momentum behind it as the previous. is also showing divergance but with only a 0.2 difference in the print.
-BTC seems to have been moving in this channel until recently and I think if we are reaccepted into the channel, the bottom combined with the support around 24000 should hold.
My plan is to enter a position around this area, but if the drop is violent, I will wait to see some indicators confirm that we have found support and the pullback is over. Hopefully I'm not sleeping when it happens.
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