[Short] BTCUSD outlook

[Short] BTCUSD outlook

Cloud Analysis:
M: Bullish Future, sadly BTC             is still too young for the monthly cloud,
W: Bearish , broke all levels of support, unless we close above 5400 before monday
D: Bearish
4H: Bearish , however we stepped over the tenkan-sen,
1H: Bearish
15Min: Bearish

Verdict:
Nothing looks good for btc             , the only thing helping us is the monthly chart, but BTC             being so young, It’s hard to rely on it, therefore there is nothing positive to say beside the 4h timeframe, where btc             looks the strongest beside the monthly.

TSI Analysis
M: Positive but trending downward
W: Oversold and trending lower
D: Oversold but forming a bottom.
4H: Oversold but slowly closing to normal levels
1H: Trending downward and loosing strength
15Min: drifting downward

Verdict:
Sadly nothing much to say here, the outlook looks bad, however the weekly and the montly TSI, being positive and the daily forming a bottom, might be enough to gain us some time to reevaluate what is next for bitcoin             .

TD             Sequential Analysis
M: Red 4 (8)
W: Red 2
D: Red 8 (7)
4H: Ranging
1H: Red 5
15Min: Red 3

Vertict:
The montly is on a red 4 but if we remove the noise by using Heikin instead, we get a red 8, which is good and could mark at least a bounce on the monthly. The Daily is also signaling a potential reversal and close to reach a 9.

Conclusion:
The outlook for bitcoin             is not very good at the moment, the montly chart and the daily are the only timeframes supporting at least a short term bullish reversal. Continue hold if you wish, Its too late to sell at this point. In the case we break down, the next level to look for a reversal is around 3000$ USD

Published at Sat, 24 Nov 2018 14:14:32 +0000