#BTC Market Updates: 09/24/18
#BTC Market Updates
OUTLOOK: Bullish
Double Bottom Bullish Reversal confirmed on Friday, but follow-through has stalled.
Nevertheless, outlook Remains bullish while above neckline of 6600$.
Immediate resistance seen at 6970$.
UTC close below 6600$ would neutralize Bullish Outlook.
Playing into the wedge still, currently have a falling 'upward' Sell Setup on the 4 which is always a bit abnormal. Last saw the 'upward' Sell Countdown on the 11 of 13 2 days ago, so looking at the Fisher about to cross may indicate we are looking for Bullish price flip very soon. This would most likely test the wedge top, and before that even, test the Senkou B bottom line of the red resistance Kumo cloud, last tested the first week of September. but was rejected. The thinning pressure from said Kumo cloud may back up this movement potential.
The ADX is low as we are, for the most part trending sideways, and DMI is consolidating to a current crossing to become bearish most likely. Also, POC is below current price action, so another bit of a bearish indication that we could continue down, creating yet more wave action trading into the wedge, before any Bullish breakouts.
Overall we're seemingly Bullish here, like always, long as we continue positive sentiment and don't have any FUD freakouts haha. Trending into the wedge and overall consolidating for weeks now is pushing us into a squeeze, but will be get a upward breakout to catch back up to 7k levels? What do you think?
________________________________
Cracking Crypto Technical Analysis
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I'm not a financial adviser. The information here is for education purposes. Trading and investing are wonderful things to do, and it's OK to take advice and to learn. I'm glad you're here right now reading this, educating yourself. Don't take my word as the gospel, and be careful. All investment and trading opportunities carry risk, I'm sure you reading this have the potential in you to profit from a careful trading plan, and wise investment choices. Do it right, do your research, and don't trade stupid. Very best of luck to you!
OUTLOOK: Bullish
Double Bottom Bullish Reversal confirmed on Friday, but follow-through has stalled.
Nevertheless, outlook Remains bullish while above neckline of 6600$.
Immediate resistance seen at 6970$.
UTC close below 6600$ would neutralize Bullish Outlook.
Playing into the wedge still, currently have a falling 'upward' Sell Setup on the 4 which is always a bit abnormal. Last saw the 'upward' Sell Countdown on the 11 of 13 2 days ago, so looking at the Fisher about to cross may indicate we are looking for Bullish price flip very soon. This would most likely test the wedge top, and before that even, test the Senkou B bottom line of the red resistance Kumo cloud, last tested the first week of September. but was rejected. The thinning pressure from said Kumo cloud may back up this movement potential.
The ADX is low as we are, for the most part trending sideways, and DMI is consolidating to a current crossing to become bearish most likely. Also, POC is below current price action, so another bit of a bearish indication that we could continue down, creating yet more wave action trading into the wedge, before any Bullish breakouts.
Overall we're seemingly Bullish here, like always, long as we continue positive sentiment and don't have any FUD freakouts haha. Trending into the wedge and overall consolidating for weeks now is pushing us into a squeeze, but will be get a upward breakout to catch back up to 7k levels? What do you think?
________________________________
Cracking Crypto Technical Analysis
Join our trading community on Discord!
Follow me on Steemit!
Follow me on Twitter!
Follow us on Facebook!
I'm not a financial adviser. The information here is for education purposes. Trading and investing are wonderful things to do, and it's OK to take advice and to learn. I'm glad you're here right now reading this, educating yourself. Don't take my word as the gospel, and be careful. All investment and trading opportunities carry risk, I'm sure you reading this have the potential in you to profit from a careful trading plan, and wise investment choices. Do it right, do your research, and don't trade stupid. Very best of luck to you!
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