So far our case study has been going very well But we have hit a point of indecision. Interms of do we wait for the buy at 20 000 Or do we buy at current level.
THE rally at 31000 has confirmed a morning star on the daily with a very solid bullish ingulfing pattern also on daily. Look close you will see it.
So the lower time frame 15min to 1h are also confirming a bullish turn.
We have Seen this before but the market dropped and turned bearish again
So what I'd the evidence telling us about the sentiment and current conditions and context of btcusd.
What reason or justification can we use to long Or to wait it out for the buy at 20 000
Bullish justification Let's see if going bullish I'd justified at this point.
1. All lower time frames from 5 to 1h is confirming a reversal to bullish.
2. The 4h time frame had a bullish crossing on the ichimoku and adx and it's sitting above the cloud. 3. The daily is still to bearish in all aspects except for the morning star with bullish ingulfing pattern. 4. The Bollinger band on the 4h is confirming top of wedge ad resistance but not over bought for short term up trend. The daily Bollinger is showing a compression happening direction of break out could be up based on daily bullish signal l.
So we could say there is a conflict of interest here The 4h confirmation makes the turn more likely by the Tim we see a daily confirmation it will be to late to enter.
THE risk of a buy at this level could be seen as short term to 52 000 before we see a pullback.
bearish continuation Has the bears been neutralized or is this bull run not strong enough to reverse the sell off.
We know that it does not take alot for a sell of to be successful and to fall people must just take three profits. Or close trades out of fear of losses.
But for bullish inplications we need bull power to push the market higher.
What do we see that imply we are still in a bearish market.
Simple all higher time frames are showing powerful bearish signals Even the daily with the bullish candle patterns.
This is a conflict of interest in terms of do I buy at this level or wait. Candles tend to show the turn before the indicator
We could look at this and justify a buy with all lower time frames bullish as a sign we are turning from small to bigger.
So I'm not sure but I am leaning towards short term buy To 51 000
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.