-Slight edge on the bearish side in form of constant pressure for ~6 months making highs lower
-Broke down out of BBands (on small scale) giving bear more edge
I give it ~3-4 days for a decisive move. Best case scenario we see 1 last bounce off of support and then ride up to breakout.
I'm fine with sitting on my hands to watch everything unfold. Fiat is the...
-Major EMA cross
Bull Flag education:
The shape of the flag is not as important as the underlying psychology behind the pattern. Basically, despite a strong vertical rally, the stock refuses to drop appreciably, as bulls snap up any shares they can get. The breakout from a flag often...
Here we see a couple indicators in confluence that are explained with a *.
EMAs are cascading nicely up from lower timeframes. Crossing the 200 EMA will be the first challenge (and possible victory) to really turn this market back to bull.
Strictly on volume profile, a bull market seems that it wouldn't have great trouble until around the 1200 range.
This is the weekly on log. Looks pretty nice with repeated support. Both the large upwards and downwards movements are possible here, keeping in mind that down has the slight edge in this pattern. This would suggest that in a week or two that we see a major breakout that will lead to ATH or free fall.
BINANCE:SYSBTC is hitting multiple points of resistance here. This is likely to be the top. We see resistance in:
BBand upper bound
200 day EMA
.382 Fib level
It will be very hard to sustain a rise, but, breaking of these 3 points (which would require much more volume) would leave the market with an empty field to run up in.
Some resistance on the .236 fib. If we can break above here then the path to 7000-7100 will be clear. MACD has plenty of room to run after a bullish cross. RSI trending upwards, but has some room for regression.
If we see a continuation, then we have 8000 lying conveniently on the golden fibonacci of .618.
The breakout is strongly confirmed on the daily....
Some upwards pressure working in, ending downwards channel. Seeing some nice confluence on RSI and Histogram uptrends. Potential to see a nice rise in the next few days if COINBASE:BTCUSD can hold up. Good luck!