We are still in the bear channel, with the 50 EMA (Yellow) slowly getting father away from the 200 EMA (Blue). Price seems to be slowly fading to the down, with a possible falling wedge forming, which could give us a relief bounce to the upper line of the triangle. My short setup is still in play. Eyes open and safe trading folk.
NzdJpy reached a good level of support with actual room to go higher. Also on the 5 minute we have a head and shoulders setting p, still early but definitely something you can look to ride up then even down for the retest.
With USDBTC shorts nearing levels that are typically followed by a short squeeze, the likelihood that BTC will make new lows in the next few days is dropping. I will look to enter a short position after we see overbought conditions on the Stochastic RSI assuming that we see such a relief rally.
The price has been moving in a downtrend channel for a week now with no significant bounces or corrections to the upside. There are still not many signs that indicate a larger bounce happening. No reversal chart patterns. The daily chart looks particularly bearish. However due to the fact that this 6750-6850 area is the key support level since the move up towards...