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*Weekly Chart*
Consensio: Experimenting with EMAs, have been backtesting and seeing some exciting results. S MA < P < M MA < L MA ( M MA right in line with top of
Patterns: Phase 7 hyperwave |
Horizontals: R: $3,662 | S: $3,581
Trendline: Channel
Parabolic SAR: At $4,469
Curve: Backwardation with 0.9% spread. Getting very close to re entering Contango.
BTCUSDSHORTS: Look at how well the weekly SAR’s have been working! Maybe it won’t pull back to ~21,000 like I thought.
Funding Rates: Longs pay shorts 0.01%
TD’ Sequential: Weekly G2 = G1 | Daily G4 = G3
Cloud: Currently testing Tenkan-Sen for resistance.
Index: At 36
Average Directional Index: Very . at 38 with > +
Price Action: 24h: -0.7% | 2w: +2.1% | 30d: -0.1%
Bands: MA = $4,555
Oscillator: Just made cross. Watch for it to cross 20 to confirm.
Summary: There are a couple very indicators and everything else is looking very .
Bearish Indicators
9 Week trending down and in confluence with top of .
Currently testing a 50 day .
shows that we have just started another bear trend and have a long way to go (which is line with my perspective of not having capitulated and needing to return to P1)
Bullish Indicators
The most indicator to me right now is the large cap alts. ETH just close a weekly candle above it’s (by < $2) and I strongly expect it to follow Litecoin’s lead. XRP has yet to make a move from horizontal support and when it does I think it will melt some faces.
If alts rally then will too. That expectation is confirmed by the market being in backwardation and above the 2 week high. If this week breaks $3,729 then it will be a weekly green 2 above a green 1.
The weekly just made it’s first close above the 4 in 2019.
The weekly just made a cross under 20 and is in confluence with the 3D (love seeing this).
I am longing here but I still kind of want everything to break down. This is the perfect recipe for capitulation: gets a bunch of indicators / buy signals at the same time and then dump hard. If we do bounce from here then I expect it will only delay the inevitable.
Published at Mon, 11 Feb 2019 03:34:03 +0000
