Simple graph showing BTCGBP at a critical point running into a major resistance level on the daily chart. Many indicators suggest that BTC is currently overbought but this yoke does have a mind of its own. Not financil advise, so its not.
KAVA on the daily chart has reached the top and broke through the channel. Currently inside the ICH cloud. keeping an eye to see if its rejected on the 50 sma or breaks through and holds. Seems to be bullish signals on the 1 hour charts but thats a little to low to comfirm a bullish break. As always not finiancil advise, so its not.
BTC currently on wave 1 and already breaks 23% global Fibonacci line after recover from ABC correction for almost 40 days. Its already at the top of the Keltner Trend and there is a lot of space to go down back to 45k. If wave 1 ends here, correction for wave 2 have a potential to bring back down BTC to 45k, but if the 1st wave continue to break 53k and peak...
It looks like a short-term "moment of truth" is happening right now for bitcoin as it starts to approach the "channel cross" of which I mentioned in previous writings.
One option looks like the price is hitting the top of the descending channel (dashed red lines) and it is then going to continue downward between 54.5K and 57K (a break near 57.5K would be better...
After making a strong trend higher for the bulk of this year, price in this market has been in consolidation mode for the past two months.
As the daily chart shows; price has been winding up tighter and tighter with a series of lower highs.
Price is now coming to an important crossroads. Momentum has been building lower with each test of the major support...
We are in a crossroads between major trendlines here.
This forms a triangle pattern on which you can apply fib-time lines to predict a breakout (0.764 fib-time).
I added some interesting levels and other trend lines aswell.
How to trade it:
Depending on what side of the triangle (bottom / top)
the price is closer to while approaching the 0.764 fib-time,
you can...
