PRICE ACTION
As price settles around $165; the volatility on the 5m chart has been consistently moving between 162-167 suggesting that the is not a huge amount of liquidity at the spot price.
The daily candle closed very indecisive, so it will be interesting to see how the activity progresses through the weekend. The last several weekends have been bullish; so combine that with the hidden bullish on the 4H and it could lead to something happening – but that is purely speculation.
Put alerts at 155 and 175 and go enjoy your weekend...
OPEN INTERESTS (BITFINEX)
Long: 2.42 Days
Short: 0.37 Days
RELATIVE STRENGTHS
ON BALANCE VOLUME
KEY PRICE AREAS
Resistance: 170, 190, 195
Support: 160, 155, 153 (28D MA)
PREVIOUS ANALYSIS
As price settles around $165; the volatility on the 5m chart has been consistently moving between 162-167 suggesting that the is not a huge amount of liquidity at the spot price.
The daily candle closed very indecisive, so it will be interesting to see how the activity progresses through the weekend. The last several weekends have been bullish; so combine that with the hidden bullish on the 4H and it could lead to something happening – but that is purely speculation.
Put alerts at 155 and 175 and go enjoy your weekend...
OPEN INTERESTS (BITFINEX)
Long: 2.42 Days
Short: 0.37 Days
RELATIVE STRENGTHS
- Micro (5m): Weak
- Short Term (4h): Hidden Bullish Divergence
- Mid Term (1D): Weakening
- Macro (1W): Hidden Bearish
ON BALANCE VOLUME
- Mid Term (1D): Higher
- Macro (1W): Lower
KEY PRICE AREAS
Resistance: 170, 190, 195
Support: 160, 155, 153 (28D MA)
PREVIOUS ANALYSIS