BTC (Prj.Y19.P5.E7).Quick Observation

Key points on what to watch
> On the Daily, we have a Regular Bullish Divergence
> With regards to the EMAs.
Daily 20 EMA still acting as resistance
Daily 377 EMA acting as support
Both 100 and 200 EMAs are barriers to pass
> Death Cross not reversed
> The Daily RSI is not really helpful however one can only compare with the last bottom with the current range.
I used the GREEN line ans a point of reference for anything below is still in the BEAR trend
RED line indicating previous bottom

Thoughts:
If the Daily 377 EMA is broken, expect a large drop to the downside
If the Daily 20 EMA is broken, expect the 200 EMA to be the next resistance
Conclusion, the squeeze is happening and if the 20 EMA still acts as resistance, it is likely to go down further in the short term.


Cheers,
S.Sari

Close up look. Orange=200 EMA, Blue=100 EMA, Black=20 EMA

My Key Lines to identify support and resistances at the micro level.

Kommentar:

Another Fractural

Kommentar:

Trade geschlossen: Ziel wurde erreicht:

The right call was made, price dropped until a strong bullish divergence occured.