BTC is an interesting position with a rally to the upside during the week, followed by an asthmatic friday rally leaving BTC hanging for the weekend.
Daily (WE Indicator)The Daily offers some short term hope as its currently completing a 4 out of 9 sequence, indicating 5 days of upside with the possibility of a breakdown as seen on previous rallys.
Weekly (WE Indicator)
The Weekly outlook is pretty bleak as BTC is completing a 5 out of 9 sequence
indicating maybe 3 more weeks of the downside, before a BUY signal.
The StochRSI is primarily used for identifying overbought and oversold conditions. And this is currently showing over sold with a double bottom.
Monthly (WE Indicator)
The Monthly outlook is bleak to say the least.
But the StochRSI is showing over sold and the time period and percent of
deviation lines between price and the average of previous prices (Momentum)
is looking to cross over soon on the bottom giving a rarly seen monthly entry
point into the BTC market.
Good luck trading!
Disclaimer: Price projections/indication above are just opinions of one indicator and one trader.
Trading is incredibly risky and should only be done with capital one can afford to lose.
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