BTC (Y20.P2.E3).We need these signs

Hi All,

The following indicators will tell us how we are tracking.

On the DAILY chart:
++++++++++++++++++++
I have the 20 EMA as the support trend line to continue the bullish tend

The RSI bottom trend-line must hold to continue being bullish, I have the 50 EMA on the RSI also as the support trend-line

The MACD, we need the cross over of the MACD and signal line above this line (blue)

A nice reversal candle on the Daily or open and close above the DAILY 20 EMA

On the 12 HRLY chart:
+++++++++++++++++++++++++++
How are we tracking?
We are just holding above the 20 EMA.
We still holding the RSI bottom support trend line
MACD is in acceptable range, showing that the bearish div. is playing out.

On the 4 HRLY chart:
+++++++++++++++++++++++++++
RSI and MACD still has the support trend-line intact

Conclusion:
Price is in the 50 to 100 EMA band, which was the region for the previous bounce.
Also price movement is still within the boundaries of the up channel.
Price is in also in the boundary of a bullish wedge (blue lines), at present, top layer.
** If the RSI trend line or channel\wedge formation is broken, then we will likely to see a downtrend and maybe a reversal.


Please don't forget to give me a tick\like, as I would appreciate it.

Regards,
S.Sari /CryptoProspa
(for my reference > Macro.charts)

تعليق:

Just got the alert for the 1 hr MACD cross over, meaning as a lagging indicator, its already crossed over. Next we want to see the 2 HRLY one cross over.
1 HRLY MACD

2 HRLY MACD
www.tradingview.com/chart/FnYRVXcK/

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At the MACRO level, I still have this going down further

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Just an update. Very difficult to make a call here.

تعليق:

Another update: It doesn't get any easier. It has reached my target for this stage however there is room on the RSI and also room in the formation to over perform and hit my next target of 9950.

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:)