Testing Out New Indicators on BTC
Today, I am waiting for funds to settle as my profits must help pay my bills this month. Happy August!
1. The Madrid Ribbon clearly shows bull and bear trends. BTC has been trying to create a small new bull trend. It may reverse.
2. Resistance is below the current high, and support levels fall far below. This could set up a nice shorting opportunity if conditions weaken.
3. Williams shows tops and bottoms. We are much closer to a top than to a bottom. This strengthens the argument that the current market is overbought.
Two scenarios: a push higher to 44k, or a continued fall from 41k.
1. The Madrid Ribbon clearly shows bull and bear trends. BTC has been trying to create a small new bull trend. It may reverse.
2. Resistance is below the current high, and support levels fall far below. This could set up a nice shorting opportunity if conditions weaken.
3. Williams shows tops and bottoms. We are much closer to a top than to a bottom. This strengthens the argument that the current market is overbought.
Two scenarios: a push higher to 44k, or a continued fall from 41k.
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