After breaking through, it came back down to show the 50MA as support. First with a bullish Harami candle followed by a doji. Alone, a doji is a neutral candle that forms when a candle open and closes at virtually equal values for the given time period. This is can be taken as a signal for a reversal pattern. Upward movement from here, boop-ing right past the blue 100MA, to show support with another bullish harami candle.
This happened as the Squeeze Momentum Indicator (source: pastebin.com/UCpcX8d7) was starting to show a volatility increase which can be identified by the white crosses. Black crosses on the midline show that the Bollinger Bands are with in Keltner Channel (market entered a squeeze). The squeeze tells us when a market is simply oscillating or a trending market. Currently showing action for a longer movement.
If this volatility remains, It may be a good time to enter into a long position.
I have given two resistance targets I will be keeping an eye out for. Mainly the 624 satoshi yellow line which was the 0.786 fib from the all time high.
코멘트:
Support off the 100MA and testing the 50MA***
Here is a copy of the 1D chart that is showing 50MA support and 100MA testing. The Squeeze Momentum Indicator is showing us signs up a potential reverse in trend and an increase of volatility.