XBTUSD Falling Wedge Outbreak, Doji with High Volume - BTC Back
The pull back of yesterday could be over!
We see a huge Doji candle with a high volume which indicates a reversal. This Doji formed at 50% fibonacci level --> Bounce off this support level.
Additionaly we broke thru the down trend line of the falling wedge. This gives us also a signal to go long.
RSI stopped going down and shows us a consolidation. DMI shows gives us the same signal.
If we break thru the double bottom neckline on 30min Chart at 8900 we should expect a continuation of the uptrend for short term which will tell us if the up trend on 4h has enough power to go further.
Here the 30min Chart:
We see a huge Doji candle with a high volume which indicates a reversal. This Doji formed at 50% fibonacci level --> Bounce off this support level.
Additionaly we broke thru the down trend line of the falling wedge. This gives us also a signal to go long.
RSI stopped going down and shows us a consolidation. DMI shows gives us the same signal.
If we break thru the double bottom neckline on 30min Chart at 8900 we should expect a continuation of the uptrend for short term which will tell us if the up trend on 4h has enough power to go further.
Here the 30min Chart:
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Almost did it, but we're still on!
Almost did it, but we're still on!
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Still in consolidation phase. Waiting for price action..
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Seems like we're on track!
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Next resistance @ 9600
Can we break it?
Can we break it?
If the this 30min candle closes above 8900 we're up again!