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.
Nota
I also forgot to mention there is a massive inverse head and shoulders formation there on the daily timeframe, a bullish structure.Nota
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 crucialNota
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 daysNota
Rejection at kijun and log down trend line, but on low volume..
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