Possibility that we can see a resumption of upward pressure.
Just a brief update for ZILBTC.
In the short term group of timeframes - (90m, 3H, 6H, 12H) we can start to see some bullish signs.
In the 90m the Red RSI closed above 56. The Red RSI & the Blue LSMA have made contact with the Green while the Green rises also the Green has risen strongly with the White Energy, which is all bullish, though we are still in a low timeframe. But the White Energy is still higher than the Green which is Bearish, however it looks like the Green can go out to the side and the White Energy fall below.
In the 3h the Green has risen strongly with the White Energy. The Red RSI & the Blue LSMA have made contact with the Green and closed while the Green is rising as is the position in the 6h & 12h.
There is potential in this set of timeframes to transition to upward pressure but we are currently still bearish until the White Energy is lower than the Green.
In the Near Term timeframes (1d, 2d, 3d & 4d) the Green is higher than the White Energy which is a good sign. In the 2d, 3d & 4d the Red RSI is above 50. Accordingly, we know that once the White Energy has risen above 50 there is a high chance for upward pressure until it falls below 50.
I have marked this as Long from what I can see. However this is the current position and the indicators have not fully crystallised a signal to sustained upward pressure quite yet....
Happy trading
aBL
In the short term group of timeframes - (90m, 3H, 6H, 12H) we can start to see some bullish signs.
In the 90m the Red RSI closed above 56. The Red RSI & the Blue LSMA have made contact with the Green while the Green rises also the Green has risen strongly with the White Energy, which is all bullish, though we are still in a low timeframe. But the White Energy is still higher than the Green which is Bearish, however it looks like the Green can go out to the side and the White Energy fall below.
In the 3h the Green has risen strongly with the White Energy. The Red RSI & the Blue LSMA have made contact with the Green and closed while the Green is rising as is the position in the 6h & 12h.
There is potential in this set of timeframes to transition to upward pressure but we are currently still bearish until the White Energy is lower than the Green.
In the Near Term timeframes (1d, 2d, 3d & 4d) the Green is higher than the White Energy which is a good sign. In the 2d, 3d & 4d the Red RSI is above 50. Accordingly, we know that once the White Energy has risen above 50 there is a high chance for upward pressure until it falls below 50.
I have marked this as Long from what I can see. However this is the current position and the indicators have not fully crystallised a signal to sustained upward pressure quite yet....
Happy trading
aBL
Comment:
FYI - Short Term timeframes
Comment:
I further want to point out, that in order to confirm reversal back to upward pressure, we need to see the White Energy in the daily close above 50 before the Red RSI in the 2d crosses below 50. We would want to confirm this by the Green being higher than the White Energy in the immediate preceding 3 timeframes - 12h, 6h & 3h. We would then concentrate on the White Energy in the 2d & the Red RSI in the 3d.
Comment:
Just a quick update.
As we can see in the chart below, the race between the White Energy in the Daily and the Red RSI in the 2D is not yet concluded. The White Energy in the Daily has not yet closed above 50 before the Red RSI crosses below 50. As I mentioned above, this is a pre-requisite to seeing a reversal to upward pressure...
As we can see in the chart below, the race between the White Energy in the Daily and the Red RSI in the 2D is not yet concluded. The White Energy in the Daily has not yet closed above 50 before the Red RSI crosses below 50. As I mentioned above, this is a pre-requisite to seeing a reversal to upward pressure...
