Bitcoin is right up against its nearly 3 month down trend line(which overall is looking like a giant bull flag(bullish). Its also directly below the Kumo cloud twist on the daily Ichimoku cloud which is a an area of weak resistance, giving a better chance of breaking through. If it breaks up through this area in the next week or two then that is a strong signal for a return to the bull trend or at least consolidation, looking for strong volume for confirmation. Whereas if it fail to break this time, a its very likely to go further down for quite a while.
Commento:
I also forgot to mention there is a massive inverse head and shoulders formation there on the daily timeframe, a bullish structure.
Commento:
the 50 day and 100 day exponential price moving averages also seem sent to bounce or either 50 cross back down under 100 so this is crucial
Commento:
looking good, has passed downtrend line on linear chart. Next up is passing the daily kijun and the downtrend line on the logarithmic chart. EMAs , RSI, MACD all looking good. 4 hour ichimoku looking very bullish. Just waiting on volume to kick in over the next few days
Commento:
Rejection at kijun and log down trend line, but on low volume..