BTC Ascending Triangle with indicators
Switching to the Heiken Ashi candles it is clear that the overarching trend, for now, is downwards favoring the shorts especially with the resent history of longs being liquidated. Ranging within the ascending triangle it is possible that the lower trendline will be tested before we see a move up within this triangle until a squeeze diverts the direction. If however we close below this current triangle we fall solidly within the indicated ascending channel with the 40K as my personal resistance. Closing below the 200 sma is worrisome at this stage.
Looking at the Trend exhaustion indicator, a clear downwards move is confirmed along with the Price vs whale money flow dipping lower as the price is dipping. This indicates at least to me that the longs vs shorts are in the neutral for now, however the money is currently flowing mostly into the long zone. Overall the market seems to be in a bullish sentiment but are diminishing gradually touching the bear market high of $47495.
When the Trend Exhaustion reaches the bottom red zone and the whale money in green is also below the price it is a good time to long the market and vise versa.
Not Financial advise.
Looking at the Trend exhaustion indicator, a clear downwards move is confirmed along with the Price vs whale money flow dipping lower as the price is dipping. This indicates at least to me that the longs vs shorts are in the neutral for now, however the money is currently flowing mostly into the long zone. Overall the market seems to be in a bullish sentiment but are diminishing gradually touching the bear market high of $47495.
When the Trend Exhaustion reaches the bottom red zone and the whale money in green is also below the price it is a good time to long the market and vise versa.
Not Financial advise.
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