BTC - Weekly Forecast
Updated
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I posted this chart as an update on one of my recent publication and meant to publish on it's own earlier. Instead I accidentally cut my internet line and my ability to publish charts with it.... So, better late than never, right?
Today we tapped into the weekly buy zone and have found strong buying there. I've charted two forecast of where I'm watching. The yellow course brushes across the top of the weekly buy zone. The blue course dips further into the buy zone (~24K) before heading up. Do keep in mind, weekly closes will be more important than wicks. Support below should the buy zone fail.
The two black channel lines are an old channel from early 2017. I find it interested how we still interact with it. As you can see, we broke above and I now expect we have a similar move below.
Weekly NVT trend suggest we are close to a bottom.
Also keep an eye on the weekly RSI. As you can see we are stuck in a downward trend. We'll want to see this trend broken to confirm bullishness.
I've linked to my DXY chart. I publish a warning for a DXY reversal nearly a month ago, which has now played out. We are currently stuck on the weekly resistance line. Please check in there for updates, as well.
I posted this chart as an update on one of my recent publication and meant to publish on it's own earlier. Instead I accidentally cut my internet line and my ability to publish charts with it.... So, better late than never, right?
Today we tapped into the weekly buy zone and have found strong buying there. I've charted two forecast of where I'm watching. The yellow course brushes across the top of the weekly buy zone. The blue course dips further into the buy zone (~24K) before heading up. Do keep in mind, weekly closes will be more important than wicks. Support below should the buy zone fail.
The two black channel lines are an old channel from early 2017. I find it interested how we still interact with it. As you can see, we broke above and I now expect we have a similar move below.
Weekly NVT trend suggest we are close to a bottom.
Also keep an eye on the weekly RSI. As you can see we are stuck in a downward trend. We'll want to see this trend broken to confirm bullishness.
I've linked to my DXY chart. I publish a warning for a DXY reversal nearly a month ago, which has now played out. We are currently stuck on the weekly resistance line. Please check in there for updates, as well.
Note
For less cluttered reference. Black lines on the chart the the same green lines here.
Note
tradingview.com/chart/cGZ1Cvfn/Up too fast. Time to book profit and watch the pull back.
Touched underside of old channel.
tradingview.com/chart/cGZ1Cvfn/
Likely break and close under 4 Hour Kinjun-Sen
trdr.io/snapshot/E3573413721095D1.png
Short term sell the bounce opportunity should be coming if you aren't already out.
Daily DXY continues attempt to break daily double resistance line.
Note
$96-97.5K targetNote
... Need to clear weekly resistance line.Note
I may post this as a separate publication, but my favorite signal for the timing to add to a HODL stack just triggered.
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