BTC [i]low volume[/i] breakout. Will it hold?
Aggiornato
RSI looking bullish in (1D) chart, but bearish at shorter time-scale charts.
Appeared to find support at the 61.8% level of the specific fib-retrace drawn -- where I've used the 6195 USD level as the bottom instead (which was the level that was held in a long painful sideways trend before the massive dump around 14thNov18 all the way down to 3kUSD) and also where the bottom of the long wick on 17thMay19 again very briefly tested before price strongly moved further up.
BTC low volume breakout of resistance trendline. Will it hold?
FUSIONGAPS {FG} and DIFFERENTIAL FUSIONGAPS {DFG} oscillators looking bullish.
There was a 50/15 sma Death Cross on 26Jul. but a reversal (Rev) looks imminent.
i.e. the Low Reversal "LoRev" signals have already been triggered at lower time-frames.
Because of the low volume breakout of the resistance, will not be in a hurry to buy in.
Will instead wait for the "50/15LoRev" to trigger on the (1D) chart in my FUSIONGAPS {FG} oscillator, confirming a significant momentum turnaround; with the price continuing to remain higher than the previous resistance line (and not fall back lower), before making a move.
Just my own personal opinion. Not an investment/trading/financial advice.
Appeared to find support at the 61.8% level of the specific fib-retrace drawn -- where I've used the 6195 USD level as the bottom instead (which was the level that was held in a long painful sideways trend before the massive dump around 14thNov18 all the way down to 3kUSD) and also where the bottom of the long wick on 17thMay19 again very briefly tested before price strongly moved further up.
BTC low volume breakout of resistance trendline. Will it hold?
FUSIONGAPS {FG} and DIFFERENTIAL FUSIONGAPS {DFG} oscillators looking bullish.
There was a 50/15 sma Death Cross on 26Jul. but a reversal (Rev) looks imminent.
i.e. the Low Reversal "LoRev" signals have already been triggered at lower time-frames.
Because of the low volume breakout of the resistance, will not be in a hurry to buy in.
Will instead wait for the "50/15LoRev" to trigger on the (1D) chart in my FUSIONGAPS {FG} oscillator, confirming a significant momentum turnaround; with the price continuing to remain higher than the previous resistance line (and not fall back lower), before making a move.
Just my own personal opinion. Not an investment/trading/financial advice.
Commento
Entered a position since price have pierced the 100 DMA on the (3hr) chart.Commento
If the next 1D candle closes above the 50 EMA, I will start cost-averaging significantly more! :)Something that I have posted elsewhere:
I think BTC will go sideways, range bound, for awhile, before breaking higher. Previous analysis seems to indicate that BTC might drop to as low as 8400USD, however, everyone is expecting that. So given that the FUSIONGAPS oscillator confirms that this is currently a bullmarket + the fact that everyone else seems to have derived similar price targets and is waiting for that to happen, I believe it is more likely to front run than overshoot to deny most people a chance to buy in the the lowest retracement level before the price continues its upward trend. :)
I'm already starting to cost average in since the "DIFFERENTIAL FUSIONGAPS" oscillator indicates a momentum reversal at the (4hr) time frame. (Fingers Crossed!)
Commento
[BUY] signal have been triggered on my LIVIDITIUM+AEONDRIFT{EMA} indicator. Time for me to cost-average in a bit more. :)
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