I've come to grow a big fan of the Ichimoku cloud associated with BB, RSI, and sentiment. In this chart we can see that BTC has broken over the Kumo cloud on the daily time frame wich is a good bullish sign on the long run, However this does not exclude a short return to a lower level but to yet bounce again remaining over the cloud.
However BTC may not even retrace to lower levels since historically August and september are good months, therefore I am eexpecting BTC to eventually cross over the resistance set from previous high in the next week or so and to eventually start descending after the lead crosses under the candles. If it does break under the cloud expect support levels at the range of 22k.
Conclusion its still a 50-50 game but given that the stock-tp-flowmodel wasnt completed the odds are on the bullish side for the next month or so, this does not exclude the possibility of crossing under the cloud and keep dipping.
Shor-term: Bullish
Long term: Bearish
Since usually alts follow and BTC and dominance is rising i believe that alts are to follow this movement. but for safety reasons id set my stop losses 12% below entry point.
However BTC may not even retrace to lower levels since historically August and september are good months, therefore I am eexpecting BTC to eventually cross over the resistance set from previous high in the next week or so and to eventually start descending after the lead crosses under the candles. If it does break under the cloud expect support levels at the range of 22k.
Conclusion its still a 50-50 game but given that the stock-tp-flowmodel wasnt completed the odds are on the bullish side for the next month or so, this does not exclude the possibility of crossing under the cloud and keep dipping.
Shor-term: Bullish
Long term: Bearish
Since usually alts follow and BTC and dominance is rising i believe that alts are to follow this movement. but for safety reasons id set my stop losses 12% below entry point.