BTCUSDT H1 chart (8/8/2019)
Good morning, traders. Nothing has really changed from yesterday, so I figured we could step back today and remove a lot of the clutter to take a much simpler look at the current price action.
This H1 Binance chart shows price consolidating near the descending channel resistance and ascending channel support as volume drops off appreciably. We can also see price remaining above the EQ of the horizontal dashed channel for now, but just below the 21 EMA. RSI shows hidden bullish divergence printing with Stoch RSI oversold and printing a bullish cross. RSI crossing above its resistance should coincide with price crossing above the descending channel resistance and signalling a bullish push up. The yellow zone is H4 demand, so a drop down should expect, at least, an initial bounce from that area. A TD 9 buy signal is currently printing on the H1. While this doesn't guarantee price will reverse, it does mean you should be watching a bit more intently for that reversal.
The H4 RSI is nearing a cross above its own resistance and Stoch RSI is nearing a bullish cross as it bounces off oversold. Price remains above the 21 EMA on this TF. Daily price is sitting on top of daily demand at this time while Stoch RSI is overbought. Daily RSI is bullish at 61. A TD 9 sell signal is currently printing on the daily chart, however the yellow boxes on that TF denoted significant similarities in price action which would suggest that there is a good chance that price pushes higher before reversing on the daily. This has often been the case on this bullish trend since December.
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Be sure to hit the "thumbs up!"
Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life.
You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
This H1 Binance chart shows price consolidating near the descending channel resistance and ascending channel support as volume drops off appreciably. We can also see price remaining above the EQ of the horizontal dashed channel for now, but just below the 21 EMA. RSI shows hidden bullish divergence printing with Stoch RSI oversold and printing a bullish cross. RSI crossing above its resistance should coincide with price crossing above the descending channel resistance and signalling a bullish push up. The yellow zone is H4 demand, so a drop down should expect, at least, an initial bounce from that area. A TD 9 buy signal is currently printing on the H1. While this doesn't guarantee price will reverse, it does mean you should be watching a bit more intently for that reversal.
The H4 RSI is nearing a cross above its own resistance and Stoch RSI is nearing a bullish cross as it bounces off oversold. Price remains above the 21 EMA on this TF. Daily price is sitting on top of daily demand at this time while Stoch RSI is overbought. Daily RSI is bullish at 61. A TD 9 sell signal is currently printing on the daily chart, however the yellow boxes on that TF denoted significant similarities in price action which would suggest that there is a good chance that price pushes higher before reversing on the daily. This has often been the case on this bullish trend since December.
_____________________________________________________________
Be sure to hit the "thumbs up!"
Every day, we have a choice to act positively or negatively, so if you get a chance, do something decent for someone today which could be as simple as sharing a nice word with them. You just might change their day, or even their life.
You can always click on the "share" button in the lower right hand of the screen, under the chart, and then click on "Make it mine" from the popup menu in order to get a live version of the chart that you can explore on your own. When you do, be sure to explore the other TFs to see what I'm watching on those TFs.
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