Historically the coppock curve has needed to reach 50 on the week chart to print a valid bullish signal.
It has now made it above zero which means this could be either a good shorting position or that a bullish base is being formed.
Plan is to wait and see if it can get above 50 and if it drops below zero again this is a shorting area with a target around $2k to $1k.
Nothing to do here until at least a week has passed.
It has now made it above zero which means this could be either a good shorting position or that a bullish base is being formed.
Plan is to wait and see if it can get above 50 and if it drops below zero again this is a shorting area with a target around $2k to $1k.
Nothing to do here until at least a week has passed.
Comment:
It is a hair's breadth away from being +50. I have a bullish bias on cryptos now but am not yet ready to start buying blindly because I am expecting a pullback that produces a downside wick on the week chart. That will be my signal to start accumulating on a dollar cost averaging basis.
Comment:
Still waiting for other items I posted about earlier like a downward weekly wick and the coppock curve going above 50