Clouds, Momentum, and RSI, Oh-My.
3 Different indicators confirming Long for the multi-day.
BTCUSD, Ichimoku, RSi & SMI show a slow bull
Since we've not seen the 3rd bull sign yet to confirm the correction is over, I'm 70/30 Long with the current correction and consolidating of the recent Short and Long squeeze. Given the Ichimoku (20-60-120-30) cloud patterns we've seen all year, which has equalized with all the new volume of 2017, BTC's set up to repeat itself for a slow bull trend. If we dip further into the cloud for a second time during this short squeeze, this would mean that the correction period isn't over but that will bring faster momentum back to the week and day timeframe as well as the overall bullish trend.
The cloud patterns, as well as the RSI, confirm historically the correlation of the two. Given there is enough volume in BTC to level the two, the patterns are undeniable. Additionally, LazyBear's Squeeze momentum indicator is showing a slow to the bear and a shift to the bull on the daily.
Cheers
~Ji
This is not advice.
I don't need to be right or wrong.
I don't care if the market goes up or down.
Make your Own analysis and trade off of that.
If you have positive, constructive criticism and wish to share Please do.
Disagreeing is not personal and is welcomed in a positive way.
This is not a therapy outlet for negativity. Go join MMA.
Happy trading everyone.
BTCUSD, Ichimoku, RSi & SMI show a slow bull
Since we've not seen the 3rd bull sign yet to confirm the correction is over, I'm 70/30 Long with the current correction and consolidating of the recent Short and Long squeeze. Given the Ichimoku (20-60-120-30) cloud patterns we've seen all year, which has equalized with all the new volume of 2017, BTC's set up to repeat itself for a slow bull trend. If we dip further into the cloud for a second time during this short squeeze, this would mean that the correction period isn't over but that will bring faster momentum back to the week and day timeframe as well as the overall bullish trend.
The cloud patterns, as well as the RSI, confirm historically the correlation of the two. Given there is enough volume in BTC to level the two, the patterns are undeniable. Additionally, LazyBear's Squeeze momentum indicator is showing a slow to the bear and a shift to the bull on the daily.
Cheers
~Ji
This is not advice.
I don't need to be right or wrong.
I don't care if the market goes up or down.
Make your Own analysis and trade off of that.
If you have positive, constructive criticism and wish to share Please do.
Disagreeing is not personal and is welcomed in a positive way.
This is not a therapy outlet for negativity. Go join MMA.
Happy trading everyone.
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