Last week was a small win for bitcoin bulls as they managed to set weekly higher low. As we noted this win was not very convincing, and hence didn't lead to much upside. In order to strengthen their position bulls needed to set daily higher low (HL) near range value area to confirm daily uptrend (UT). This happened yesterday but for some reason bulls were unable...
Context: Weekly – uptrend (UT), one-time-framing up Daily – uptrend Microstructure: Poor highs, poor lows Last day: value moved down Special notes: There are multiple signs of UT exhaustions: shortening of daily trend upthrust, daily volume dries up, last week value area overlaps with previous week Moreover, price is close to monthly resistance cloud....
Context: Monthly, weekly - Uptrend (UT) Daily - downtrend (DT) Micro-structure: Poor low from yesterday, excess high from Wednesday Last Day: Bearish break out from the range w/o much follow through (b-shape profile implies liquidation of longs, w/o new business). Price returned to the previous range. Conclusion: Healthy weekly consolidation. Daily DT...
Context: Monthly – Uptrend (UT) Weekly - UT tentatively confirmed. Last week value moved just a bit lower comparing to preceding week, which signals down movement exhaustion. Daily – broken downtrend (DT). Microstructure: Excess at the high, excess at the low Last day: Price moved to the top of the range, finding some acceptance and setting weekly HL ...
Context: Monthly – Uptrend (UT) Weekly - range, potential setting of higher low (HL). Last week value moved just a bit lower comparing to preceding week, which signals down movement exhaustion Daily – broken downtrend (DT). Last two days (Saturday-Sunday) are inside bars within Friday’s range (two days balance) Microstructure: Two days with excess low (1st and...