a 12 hour view of Bitcoin and potential warnings of many things
many things to consider so I will start with the obvious large one. Our monthly resistance levels. H3 is top of range and H4 is breakout region resistance via Camarillo levels. Traditionally when H3 is rejected or lost the typical intraday or month trade is to target L3. To support this possibility there is a rather wide central pivot range CPR in these monthly levels which tend to lean towards ranging behavior and not structural break. The CPR and pivot (purple levels will definitely be crucial to hold so worth managing risk there.
The macd is fairly bearish in most 12hour daily views. He has crossed down depending on the timeframe but also daily bearish divergence can be spotted on the macd and the VWmacd. overlayed I have the godmode with recently signalled top on 12/daily chart and seldom does it signal and flip bottom in a week. that I know of
next top right we have a firefly occilator overlaid with a special wave trend script. which distinguishes macros wavetrend shorts/long signals over minor ones. usually this will flip yellow for a close or blue for long after top signalling (purple).
then we have a PPO lagg top/bottom detector beside an OBV in occilator form. I like to generally find top or bottoms on the PPO and Take a trade when the OBV impulses toward the same direction. this is both a volume and momentum joint confirmation. However if anything they have divergence from each other.
12 hour smooth center of gravity stochastic down. pretty telling. overlayed weis volume cones for simply reading of volume ticks. You can draw a line. and see our volume declining as price rises. could actually draw an H&S
For simplicity the bottom right indicator is 3 EMA in occilator form. nothing special here except we can see them tightening up and maybe slopping down a bit.
All and all. of course the trend has been bullish. but there are warning signs to be careful. History is all we have to go off of in TA. and when market gets exceedingly bullish or bearish BEFORE big famous resistance... there tends to be violent moves for both side. Good luck. If you are short.. In my opinion it is easier to manage risk from at this point. could choose H4. If you want long. Might be better to long after H4 broken on the hourly with a stop-loss at H3
The macd is fairly bearish in most 12hour daily views. He has crossed down depending on the timeframe but also daily bearish divergence can be spotted on the macd and the VWmacd. overlayed I have the godmode with recently signalled top on 12/daily chart and seldom does it signal and flip bottom in a week. that I know of
next top right we have a firefly occilator overlaid with a special wave trend script. which distinguishes macros wavetrend shorts/long signals over minor ones. usually this will flip yellow for a close or blue for long after top signalling (purple).
then we have a PPO lagg top/bottom detector beside an OBV in occilator form. I like to generally find top or bottoms on the PPO and Take a trade when the OBV impulses toward the same direction. this is both a volume and momentum joint confirmation. However if anything they have divergence from each other.
12 hour smooth center of gravity stochastic down. pretty telling. overlayed weis volume cones for simply reading of volume ticks. You can draw a line. and see our volume declining as price rises. could actually draw an H&S
For simplicity the bottom right indicator is 3 EMA in occilator form. nothing special here except we can see them tightening up and maybe slopping down a bit.
All and all. of course the trend has been bullish. but there are warning signs to be careful. History is all we have to go off of in TA. and when market gets exceedingly bullish or bearish BEFORE big famous resistance... there tends to be violent moves for both side. Good luck. If you are short.. In my opinion it is easier to manage risk from at this point. could choose H4. If you want long. Might be better to long after H4 broken on the hourly with a stop-loss at H3