5 hours ago Bitcoin closed a 5D candle.
I like to watch this timeframe as its not very popular but very often it gives very clear picture of what's going on and it comes quicker than watching weekly.
It's currently on heikin ashi candles and you can see marked in yellow the kind of candle which BTC printed 5 hours ago.
Also I have a script which is painting candles in blue or yellow if they are in the extremes of all 3: RSI, StochRSI and MFI.
Using red arrows I've marked off the two times that this same strategy has failed, so keep that in mind too.
You can also see in the CryptoVN when there is a red dot printed above the 60 level what kind of results its producing.
The more likely scenario is that BTC will drop from here and I expect it to be rather quick drop and the two levels I am watching for re-entry are:
16600 - Also 350MA on 4H timeframe (very important you can check my related charts)
13750 - Also 140 MA on the Daily Timeframe (even more important, you can check my related charts)
I like to watch this timeframe as its not very popular but very often it gives very clear picture of what's going on and it comes quicker than watching weekly.
It's currently on heikin ashi candles and you can see marked in yellow the kind of candle which BTC printed 5 hours ago.
Also I have a script which is painting candles in blue or yellow if they are in the extremes of all 3: RSI, StochRSI and MFI.
Using red arrows I've marked off the two times that this same strategy has failed, so keep that in mind too.
You can also see in the CryptoVN when there is a red dot printed above the 60 level what kind of results its producing.
The more likely scenario is that BTC will drop from here and I expect it to be rather quick drop and the two levels I am watching for re-entry are:
16600 - Also 350MA on 4H timeframe (very important you can check my related charts)
13750 - Also 140 MA on the Daily Timeframe (even more important, you can check my related charts)
