BTC seems to be stuck in a big symmetrical triangle. Decision time coming in the next 1-2 weeks. My gut feeling is up, but it could go either way.
Here are the five main signals I am looking for to confirm a bullish move:
1. RSI needs to cross 50 and build support there. 2. Stoch looks good but could go lower. Lower the better. 3. Price needs to close above the kumo (green cloud), its currently inside which is why the price is so flat. 4. Tenkan (yellow) needs to cross the kijun (orange) 5. Chikou (purple) needs to cross the tenkan and kijun.
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1d candle closed within the triangle again. Positive news.
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BTC has broken downwards. But here's some perspective to those who are claiming that this is the end of the world.
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Stay strong. The market will recover.
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The 7 big corrections of the past 2 years. Everything is fine.
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Seems that option 3 was chosen. Both trends still in tact. Reversal not confirmed yet, but positive signs.