BTC more indications are in favor of bullish rather than bearish
Priceline of the worlds leading cryptocurrency Bitcoin / US Dollar is finalizing the consolidation period and all candle sticks are accumulating between 12061 to 9320 dollars.
Ichimoku cloud is turned bullish after a year since 113 days, when it was last turned bullish in May 2016 then it was remained bullish for atleast 2.5 years and finally in Nov 2018 it went bearish.
Chop zone is also strong bullish since last 5 months, when it was last turned bullish in Oct 2015 then after almost 2.2 years it turned back to bearish.
Stochastic RSI is oversold and likely to give bull cross soon.
50MA is moving up to form a golden cross with 100MA soon and both moving averages are below the price action.
Lagging span of ichimoku cloud is above the priceline and moving up.
The price line on this week chart has formed a 1st bull flag and in case of breakout the next stop will be 16300 to 17200 but in case of breakdown the price action can hit the 100MA support which is around at 7500 dollars.
But more indications are bullish rather than bearish so I think the bitcoin has almost finalized to move up soon.
Regards,
Atif Akbar (moon333)
Ichimoku cloud is turned bullish after a year since 113 days, when it was last turned bullish in May 2016 then it was remained bullish for atleast 2.5 years and finally in Nov 2018 it went bearish.
Chop zone is also strong bullish since last 5 months, when it was last turned bullish in Oct 2015 then after almost 2.2 years it turned back to bearish.
Stochastic RSI is oversold and likely to give bull cross soon.
50MA is moving up to form a golden cross with 100MA soon and both moving averages are below the price action.
Lagging span of ichimoku cloud is above the priceline and moving up.
The price line on this week chart has formed a 1st bull flag and in case of breakout the next stop will be 16300 to 17200 but in case of breakdown the price action can hit the 100MA support which is around at 7500 dollars.
But more indications are bullish rather than bearish so I think the bitcoin has almost finalized to move up soon.
Regards,
Atif Akbar (moon333)
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