Sub Daily I am neutral. Daily I am definitely leaning bullish.
In most of these downtrends with BTC you see several triangle consolidations, and they become more visible with the Heikin Ashi. Right now we are breaking up out of one.
On my 8HR Heikin Ashi I have translated 50+200 Daily SMAs as well as 50+200 4HR EMAs.
-MFI and RSI are showing Bearish Divergences on the Daily Chart. It's been a few days here since this, so confirmation has arrived.
-TD Sequential created another 9 here showing 2x the resistance from another old 9.
.618 Fibonacci Zone showing moderate resistance.
Target is 7400-7600 Area
Stop Loss is 8400
-On the daily there is a lot of sideways movement, with bullish and bearish candles overcasting each other.
We're poking out of a down trend line from 1.18.18 (Triangle Apex) on linear scale, however volume if still very low at the moment. This could indicate a move down if bulls don't move soon.
-4HR RSI is showing...
.618 Retracement not exactly touched, but very close. We are still currently in what looks like a bear flag or reversal pennant on smaller time frames, so this could easily still go south.
If this is in fact "the bottom," we have a possibility of a nice .618 ABCD formation matching a .382 Fib extension, which would put us exactly at 14k.