Interesting indeed!
A possible BULLISH view of BTC. This is the daily chart, as you can see i have my 2 long term down trend lines drawn along with BTC bottom support line, creating this big long term wedge. Then I have this smaller wedge drawn for more recent data and I found that the tip of this wedge on the shorter time frames matches up with my long term down trend lines. Now shifting our focus to the daily ichimoku we can see for a period of time in the near future this cloud thins out, becoming less of a resistance to break through. I have outlined the beginning and ending period of this thinned cloud (green lines) and you cansee this falls in the same exact time frame that the wedges intersect. To add, we can see BTC has a possible cross coming up on the daily ichimoku (tenkan & kijun), and the RSI is on a steady incline backed by a diagonal support. To wrap this bullish bias up, BTC has been making higher lows for a good amount of time now!
Now if BTC fails here, I think this will be the time we truly drop bottom support and take that deep dive, we are running out of room to keep creating these lower highs above the 5.8k - 6k range
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A possible BULLISH view of BTC. This is the daily chart, as you can see i have my 2 long term down trend lines drawn along with BTC bottom support line, creating this big long term wedge. Then I have this smaller wedge drawn for more recent data and I found that the tip of this wedge on the shorter time frames matches up with my long term down trend lines. Now shifting our focus to the daily ichimoku we can see for a period of time in the near future this cloud thins out, becoming less of a resistance to break through. I have outlined the beginning and ending period of this thinned cloud (green lines) and you cansee this falls in the same exact time frame that the wedges intersect. To add, we can see BTC has a possible cross coming up on the daily ichimoku (tenkan & kijun), and the RSI is on a steady incline backed by a diagonal support. To wrap this bullish bias up, BTC has been making higher lows for a good amount of time now!
Now if BTC fails here, I think this will be the time we truly drop bottom support and take that deep dive, we are running out of room to keep creating these lower highs above the 5.8k - 6k range
FirstClass Crypto Club
Message @FirstclassEra to join!