BTCUSD - Bearish market? Or going full bull mode soon?

While we're still in a locally ascending channel and things might look positive. Some indicators say otherwise. For now I'm suggesting to hold, I'm holding onto my sell position from 9002.

Please let me know what you think in the comments!

Volume-Price Trend

• Volume: Has been declining since the last 16 days on the 1D timeframe, this could imply a price reversal is in play (Bear)
  
• Price: As for the price itself last week from 20th may was bearish going in decline as well (Bear)
  
• Trend: When you look at the pattern of the volume compared to price, you see a stronger market for selling BTC rather than buying or investing (Bear)
  

Moving Averages

• Short-term: 50MA Going up since april 30th (Bull)
  
• Mid-term: 100MA Going down since the dump on march 11th (Bear)
  
• Long-term: 200MA Going up again since the pump on april 29th while it's been going down since november 23rd 2019 (Bear)
  

Patterns

• Ascending triangle: Which could indicate a bull (Bull)
  
• Elliot wave: Going up first on the 12345, now in an ascending triangle correction wave ABC form a wedge possibly breaking out at the bottom sooner or later going bearish (Bear)
  
• Local channel: Ascending channel since march 13th has been broken through the upper level once or twice, now breaking through the lower level since last 3 days (Bear)
  

Candlesticks
1M: Spinning Top (Neutral)
1W: Bullish Harami (Bull)
1D: Bullish Harami then Neutral (Neutral)
4H: Three Outside Up (Bull)
1H: Bullish Engulfing, twice (Bull)

Overall rating
Bear signs: 7
Neutral signs: 2
Bull signs: 4 (2 of them based on candesticks)



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Any of your feedback is my motivation to keep going and to learn more about Technical Analysis!

코멘트:

Without fib channel

코멘트:

If the Elliot correction wave will hold (CDE), BTC we could be squeezed and looking at a breakout hitting support on 6.8K or going up again hitting resistance on 8.5K.