Update to previous analysis
Updated
Update to previous analysis
Just a quick update to point out that we can see some early signs for a possible reversal to upward pressure.
The Green is higher than the Energy in all of the scalping group of timeframes, this indicates bullish sentiment. It is in these timeframes that reversals to upward pressure originate. In the 3h the Green has crossed above 50, the Red RSI and Blue LSMA has made contact with it as it rises and the Green is higher than the Energy. This is all bullish.
The Green is higher than the Energy in all of the Short term timeframes and the Red RSI has made contact with it as it rises.
I will try and update with more detail when I get a moment.
As always - this is not financial advice but just my view of current market dynamics.
One has to be aware that analyses are done on the basis of what the indicators are saying at the time and things can change. It is important to always monitor the scalping group of timeframes as we will see changes propagate up from there.
Trade safe
aBL
Just a quick update to point out that we can see some early signs for a possible reversal to upward pressure.
The Green is higher than the Energy in all of the scalping group of timeframes, this indicates bullish sentiment. It is in these timeframes that reversals to upward pressure originate. In the 3h the Green has crossed above 50, the Red RSI and Blue LSMA has made contact with it as it rises and the Green is higher than the Energy. This is all bullish.
The Green is higher than the Energy in all of the Short term timeframes and the Red RSI has made contact with it as it rises.
I will try and update with more detail when I get a moment.
As always - this is not financial advice but just my view of current market dynamics.
One has to be aware that analyses are done on the basis of what the indicators are saying at the time and things can change. It is important to always monitor the scalping group of timeframes as we will see changes propagate up from there.
Trade safe
aBL
Note
Still looking good!As previously mentioned, in order to catch moves early, one has to continue to monitor the scalping group of timeframes which is where changes propagate from. In all this group of TFs the Green is higher than the Energy which indicates bullish sentiment.
The Green is also higher than the Energy in all the short term group of TFs except the 90m where it looks like the Green may well come out to the side to allow time for the Energy to fall below. The indicators are turning up in the 12h and teh BBs are expanding, in order to continue expanding, we would like to see the Blue LSMA also rise up more. We can see the conditions to support the price action to go up between the Aqua/Orange upper BBs, currently between 89 & 94 sats.
Near term group of TFs.
In the daily the Green is higher than the energy indicating bullish sentiment, The Red RSI and the Blue LSMA have closed making contact with the Green as it rises. We can also see potential in the daily for the price action to reside between the Aqua/Orange upper BBs. The Green is higher than the Enrgy in the 2d, however despite the Blue LSMA crossing above 50 we have yet to see the BBs significantly expand, this can happen as the Blue LSMA rises toward 70, particularly if the Blue LSMA in the 3d can move up above 50 as seems to be very possible.
In the 3d & 4d the Energy is higher than the Green and we can see the BBs tightening, the Energy in the 4d looks likely to exhaust and fall to the 50 level, if the Energy remains above the Green we can see a lower low and a period of downward pressure from around the middle of February. This is consistent with what we are tending to see with many coins currently.
This view of a period of downward pressure from the middle of February is supported by whate we can see in the mid term group of timeframes.
Note
Just a quick update.As suspected, we can now see that the Energy in the 90 has fallen below the Green MA. The price action has risen to the Aqua/Orange upper BBs and wicked up to the Red upper. The Energy is higher than the Green in all the sort term group of timeframes indicating upward pressure. In the 12h as considered, the Blue LSMA has risen a bit further and the BBs are expanding more. In the 12h the Red RSI is crossing bullish above the Blue LSMA.
In the 2d we are now seeing the early signs of the BBs expanding allowing for higher price action as we can potentially rise up within the Aqua/Orange uppers of the expanding BBs
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