Today $BTC made a move that set the odds neutral. As the major damage was done on the weekly frame, it looks like the decision on direction will be postponed till Saturday/Sunday. As usual, let’s have a look at the coin from different angles.
The weekly analysis with Long Term Forecast can be viewed here:
This daily overview contains:
– daily candle charts – analysis of candles and technical events;
– detailed hourly EW chart and a short term projection;
– forecast for this week – targets and timing.
Today’s green candle closed above 8 EMA line for the first time in more than 2 weeks and it could be the first bullish step if it gets confirmation tomorrow, preferably on a higher volume.
From the candles perspective, the length of the today’s candle was not enough to form a bottom and another green candle tomorrow would help.
The majority of indicators are bearish and there is no clear trend direction. The weekly frame is also bearish, and a bullish signal there is required to turn it bullish.
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