BTC 2Hr:
- Confirmed breakout on descending channel
- Retest on trend line
- RSI breakout on trend line and recorrected
- Bollinger Band pressure on lower band, can result in buying pressure
- MACD about to reverse in the uptrend
This play can be seen in the 4hr timeframe but viewed in the 2hr for more detailed retest confirmation on the trend line
BTC 2Hr
- MACD momentum swing
- RSI supporting the MACD uptrend
- Resistance retest at 45000 range
- Possible descending channel breakout to be confirmed
On the larger scale there has been a large sell off which with all markets there needs to be some counter action, retesting support lines we have dropped below
BTC 1H:
Ive never looked into Adam and Eve formation but this could be the last move before breaking out of the descending triangle towards to upside.
-3 key rejections off the 45500 range
-Minor resistance at neckline at 4800
Descending Triangle BTC 1D:
Chart pattern forming Descending Triangle
- Volume Weakening
- MACD trend downwards
- RSI descending trend line, yet to retest support at 30
Breakout bearish will result in a retest major support at 4200
Breakout bullish could retest major resistance at 5200
Note: BTC.D is also at a major support at 40% which could trigger a sell...
BTC.D 1W:
Descending triangle forming
BTC to gain strength off support, which could indicate 2 scenarios:
- Large BTC run without alts performing restarting the crypto cycle #alltimehighs
- BTC sell off with alts having greater sell off #bearmarket
With BTC performance shows weakness from last couple months
#timewilltell
