Zooming out really gives you a bigger picture of what this move could be the beginning of. In my time studying price behavior I find the best r/r opportunities come on retests of a negative divergence on the RSI. As you can see on our Weekly chart, we have moved below our RSI moving average. I would really start to worry from a bullish standpoint when the moving...
Today we had a bearish trend change on the Daily. This is significant given the last bearish change occurred back in April '24. The bears can't celebrate just yet as we are sitting on our long term EMAs but bears will have an opportunity to defend shortly. I'm keeping an eye on our RSI possibly going to retest our downward sloping RSI moving average around the 50...
Pullback on the bullish trend here looking on a large timeframe. Discount prices at these levels and I certainly know my wife hasn't slowed her obsession. Long term believers should rejoice at a these levels.
3 month timeframe zooms things out for us. I like to use my EMAs on longer timeframes for this very reason. If you are a long term believer in the coffee giant then this is a value add level. I don't love that lower high that was created previously which give the overall picture of a H&S. Overall, this doesn't scream super bullish BUT long term believers are being...
Bitcoin daily trend is currently in a bullish price structure indicated by the green bars. We tested lower EMAs where we bounced. I also see a nice bull flag on the wkly which gives the move higher some coiled pressure if we continue the momentum higher!
