6H TK negation - Bullish if confirmed by Volume increase
We had a TK bear cross negation on the 6HR chart
Currently BTC is respecting the bullish trendline accurately
This gives a projection using Fibonacci spiral to 6700 max and a min of 5950 range in the next cycle.
On the 4HR volatility has had 2 recrosses, now is on the bullish side. Furthermore the price has bounced the kumo.
What is missing is a volume increase to keep pace with the rise in price. Once this is confirmed we can take a position on the long side.
Conclusion:
Stay on the sideline and keep a good watch to volume and price action. An entry below 5900 if confirmed by good volume ensures a high chance of profitability at any time of the next forming cycle
Currently BTC is respecting the bullish trendline accurately
This gives a projection using Fibonacci spiral to 6700 max and a min of 5950 range in the next cycle.
On the 4HR volatility has had 2 recrosses, now is on the bullish side. Furthermore the price has bounced the kumo.
What is missing is a volume increase to keep pace with the rise in price. Once this is confirmed we can take a position on the long side.
Conclusion:
Stay on the sideline and keep a good watch to volume and price action. An entry below 5900 if confirmed by good volume ensures a high chance of profitability at any time of the next forming cycle
Trade active
Comment:
Volume picking up confirmed the entry, further confirmation when lagging line crosses the price in the 6HR chart
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