Overall the long term trend is bullish, the price is at the last weekly support at the bottom of the cloud, the rest of the clouds beside the monthly are bearish, I expect at least a the price to test the 2500 level. It 2500 does not hold, the next level should be around 2000, where the cloud is currently resting.
TSI Analysis M: Bearish cross in september, still trending bearish, W: Bearish, trending down not yet oversold D: Bearish, After being oversold and have had a shot term recovery, the TSI is still trending downward 4H: Bearish, trending downward. 1H: Bearish, ranging in oversold enviromment. 15Min: Bearish, trending even deeper in bear territory.
Verdict: Bearish The TSI is overall bearish, but still positive for the montly chart. The TSI does at least confirm that the Bull market is currently being strongly threaten. No sign of the bottom yet,
TD Sequential Analysis M: Red 2 W:Red 2 (7) D: Red 4 (8) 4H: Red 7 1H: Red 6 15Min: Red 5
Vertict: Bearish
Bearish outlook across the board, however, switching to Heikin Ashi candles, shows that the sequential is close to at least short term bottom. Normal candles are having too much price flip which kind of make it difficult to use the sequential normally. We could see a bottom in the next 2 weeks, after bottoming at 2500 or after a capitulation and touching the 2000$ level.
Conclusion:
I am currently short term bearish and long term bullish, I would wait 1-2 more weeks before taking a any major trade. 2500 and 2000 being critical levels, 2500 being an important level for the current monthly, if the support at 2500 would fail it would trigger a short signal, 2000 would then be the next destination to consider a long entry,
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.