After 2 failed attempts of breaking the important 52k level, Bitcoin is currently trading around the center line of the downward channel. At least a small very short term bounce up could be possible here. Should the price break and confirm the level around the channels center we could see a drop to the next really important support area between 40,5k and 42k or...
On the Left Daily Chart:
- Higher highs, Higher lows
- MACD crossed up
- RSI looks good
- Volume starting to look good
On the Right Monthly Chart:
- MACD about to cross up
- RSI looks good
- Volume looks good
This looks so ridiculous bullish. I think the Cannabis Bear Market might be over soon and we will enter a new bull run. Am I missing anything?
Currently MJ is touching a trendline resistance the third time. If a bounce is confirmed, this is a low risk long opportunity. Tight stop losses are a must. Cannabis is still a bear market and a high risk sector.
On the really longer term (monthly chart) RSI is coming from oversold and MACD is closing in. If there is a MACD cross on the monthly, this will likely...
- Price exactly at resistance to new highs
- a close above it would be really bullish
- a retest of 74$ and then bounce is confirmation
- macd cross
- rsi going up
- adx and atr suggesting momentum and volatility increase could soon be seen
- Sony invests $250M in Fortnite maker Epic Games
- Next Generation Consoles coming this...
This is a favorable setup for a long position on the daily chart.
- Clear structure of higher highs and higher lows since march drop.
- rsi not overbought and macd cross on daily possibly tomorrow
- Currently possible move up from 0.618 fib. if open on monday is a bullish candle this is a good entry. wait for confirmation
- first target is just under 100$. would...
Ascending Triangle on Daily and 4h
Weekly oversold RSI turning upwards
Weekly MacD bullish crossover soon
Need to break RSI 38 on weekly and 50 EMA on 4h after a upside breakout for a bullish reversal. Heavy resistance expected there. But you can play the breakout with minimal risk.
Weekly MacD is turning bearish
Weekly RSI has still a way to go until 54 which was the lowest in the last Bull Market
Clear descending Triangle on Daily and 4h which is likely to break to the downside with it's 3rd or 4th retest
Lower Highs since 14k
Levels to watch if breakdown happens:
0.5 Fib Retracement