XBTUSD 1D chart (7/16/2019)
ที่อัปเดต:
Good morning, traders. So far, things have continued to move along as suggested was likely yesterday. Price has been retracing a over night after notching a 10% gain during the day as it reached a high of $11069. This retracement has been a bit deeper than I would've initially expected so I am cautious at this time. As mentioned yesterday, if price cannot close above that $11000 level, then we should expect further downside toward the ~$9000 daily demand block. If price makes its way above $11000, then $12400-$12800 should be expected.
The reality is that all of this lower TF movement and confusion may currently just be noise in relation to the daily hidden bullish divergence that recently printed between the beginning of June and mid-July. Price is considered to have been supported by the daily pivot after closing below it two days ago and then closing above it yesterday. However, price needs to overcome the 21 EMA at $11000 to signal further price appreciation. Daily Stoch RSI crossed bullishly in oversold yesterday but RSI remains slightly bearish at 47.
Currently, price is attempting to bounce between the 50% and 61.8% retrace of the recent $9850-$11069 move. This has M15 RSI bouncing off oversold and Stoch RSI crossing bullishly in oversold. The 3D RSI printed hidden bullish divergence recently, but we need to see this candle close higher to confirm it. Stoch RSI is oversold and nearly bottomed out which generally means that we should see price starting a new bullish trend sooner rather than later.
That all being as it is, I have been mentioning an alternative path that price could take if it couldn't close above $11000. If you make this chart yours per the instructions below and then zoom out to the 2D, you will see the projected path which should have price bouncing out of the 1D/2D demand block noted in dark grey. This would also print a flag rather than the pennant we are watching. However, the only way we really know that price is more likely to head to that point is if it drops below the recent swing low at $9850. If the $10200/$10300 level gives way then we may see support pulled and price accelerate toward those lows rather quickly. With current RSI and Stoch RSI where they are on multiple TFs, I wouldn't be surprised to see a daily or 2D wick into the area printing the flag and then price rebounding sharply higher afterward.
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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.
The reality is that all of this lower TF movement and confusion may currently just be noise in relation to the daily hidden bullish divergence that recently printed between the beginning of June and mid-July. Price is considered to have been supported by the daily pivot after closing below it two days ago and then closing above it yesterday. However, price needs to overcome the 21 EMA at $11000 to signal further price appreciation. Daily Stoch RSI crossed bullishly in oversold yesterday but RSI remains slightly bearish at 47.
Currently, price is attempting to bounce between the 50% and 61.8% retrace of the recent $9850-$11069 move. This has M15 RSI bouncing off oversold and Stoch RSI crossing bullishly in oversold. The 3D RSI printed hidden bullish divergence recently, but we need to see this candle close higher to confirm it. Stoch RSI is oversold and nearly bottomed out which generally means that we should see price starting a new bullish trend sooner rather than later.
That all being as it is, I have been mentioning an alternative path that price could take if it couldn't close above $11000. If you make this chart yours per the instructions below and then zoom out to the 2D, you will see the projected path which should have price bouncing out of the 1D/2D demand block noted in dark grey. This would also print a flag rather than the pennant we are watching. However, the only way we really know that price is more likely to head to that point is if it drops below the recent swing low at $9850. If the $10200/$10300 level gives way then we may see support pulled and price accelerate toward those lows rather quickly. With current RSI and Stoch RSI where they are on multiple TFs, I wouldn't be surprised to see a daily or 2D wick into the area printing the flag and then price rebounding sharply higher afterward.
_____________________________________________________________
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.
บันทึก
Here's the alternate movement mapped out on the 2D chart.
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