BTCUSD
Hello everyone,
... back with another update.
There's not a lot to report.
* We are hitting resistance at 9,600 (magenta arrow).
* TD Sequential and Stochastic RSI are signalling an upcoming trend change (see below).
Unless we drop significantly, today's close will print a green 7 on the TD Sequential.
=> A green 9 would be a strong indication of an incoming trend change.
Furthermore, notice that we have a cross on the stochastic RSI; with the (daily) RSI sitting around 65.
It's also worth having a look at the hourly chart.
We are very close to the apex of an ascending triangle (magenta and blue arrows).
Statistically seen, these have a 63% (empirical) probability of breaking to the upside (with significant volume). However, the breakout generally occurs at 62% of the way from the start (in our case, the big green candle of July 23 @ 00:00h UTC+2) to the apex. We are clearly way past this point.
Moreover, volume is trending down and hugging the 21h SMA (red curve) and EMA (blue curve).
Hence, at this point, it's a coin flip. However, I would keep a close eye on it: it should be a matter of hours.
* If we break (up) 9,600 with substantial volume, that would be a sign to go long.
* If we break (down) the ascending (blue) line and the 21h SMA and EMA, that would be a sign to go short.
But, until that moment, I remain NEUTRAL.
___________________________________________________________________________________________________
OPINION (unchanged): NEUTRAL
ANALYSIS (updated):
-----------------------------
See above.