What market phase are we entering into has been the introductory question for our last appointments.
Welcome to Surfing the Market, we are already at our 10th appointment and I hope that with these easy tech analysis we have helped you and we can help you further.
Let’s start from our usual weekly perspective
WEEKLY CHART
The last week had a strong bounce back from the previous week when the yellow line acted as a strong support. Another interesting perspective here is on the 200 moving average (thin blue line), that has been broken with an upward move. If the weekly candle closes above this the 200MA price this will be a very strong bullish signal. And here we are at 23500$ price like I have been speaking in the last weeks.
Do you know why my target for trading is gaining portions of BTC to be higher than exactly 0.003 BTC? Give your answer here in the comments.
What do I expect from a daily perspective?
DAILY CHART
Here is a daily chart, where the usual continuous red and blue lines are still clearly visible, plus the 200MA, on daily basis.
Price has skyrocketed from the yellow support, testing the 24000$ area. Price has reached strongly the 24000k area, breaching the 23500$ level that I identified as a potential checkpoint.
DAILY CHART
Stochastic is now in an overbought area and that is simply natural, with the strong impulse we have seen in the last days.
DAILY CHART
Price has finally entered into the Cloud, that usually acts as a statistical magnet. In this area, the Cloud is not very wide so I keep expecting a further move upwards, breaking the Cloud upwards.
What to observe particularly?
Trend has become locally bullish and the the upper horizontal level fo the Cloud is my next target (25100$) and the following one may be the area between 29000$ and 29600$, from another small horizontal level from the Ichi Clouds and the continuous green line.
Let me know what you think about this new weekly appointment, and what indicators you would like to be taken into consideration more (or even explained).
Stay tuned and be sure to follow to get noticed when my contents come out.
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None of what I write can represent a financial advice in any form. So Do Your Own Research (DYOR) before taking any kind of action.
