BTC channel update 12, 1D
Good day to all,
Here is my take based on what I see on the 1 D using Heiken ASHI. Switch to normal candles if you wish.
1. There is a drop in excitement on the emotional index
2. The notable rise in Shorts has flattened out and Longs are gradually increasing
3. Price vs Market Cap (Overall Market) strength indicates money flowing currently out of BTC
4. The market still favors shorts although moving into a high neutral range
5. There is a decrease in Whale and Institutional Smart Money selling the move up
6. Good support at $41779 and resistance at $45521
7. The DMA is worrisome as the 200 DMA is projecting to move above the 100DMA with the 50 DMA currently trending lower acting as resistance (Positive displacement)
8. The RSI, MACD and 50 MA are all positive at time of this post, however we will see if its short lived or have proper momentum
9. The Trend Exhaustion is still very high although moving slightly down
10. The Price vs Whale Money flow is moving up slightly and are diverging with the Trend Exhaustion. I am not ruling out that the Trend might follow suit pushing the price further into an oversold area.
11. The Pressure indicator on top does not indicate any significant market pressure which would normally indicate an strong move in either direction
Kindly like and comment if you can, thanks
Here is my take based on what I see on the 1 D using Heiken ASHI. Switch to normal candles if you wish.
1. There is a drop in excitement on the emotional index
2. The notable rise in Shorts has flattened out and Longs are gradually increasing
3. Price vs Market Cap (Overall Market) strength indicates money flowing currently out of BTC
4. The market still favors shorts although moving into a high neutral range
5. There is a decrease in Whale and Institutional Smart Money selling the move up
6. Good support at $41779 and resistance at $45521
7. The DMA is worrisome as the 200 DMA is projecting to move above the 100DMA with the 50 DMA currently trending lower acting as resistance (Positive displacement)
8. The RSI, MACD and 50 MA are all positive at time of this post, however we will see if its short lived or have proper momentum
9. The Trend Exhaustion is still very high although moving slightly down
10. The Price vs Whale Money flow is moving up slightly and are diverging with the Trend Exhaustion. I am not ruling out that the Trend might follow suit pushing the price further into an oversold area.
11. The Pressure indicator on top does not indicate any significant market pressure which would normally indicate an strong move in either direction
Kindly like and comment if you can, thanks
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