Post
Topic
Board Speculation
Merits 5 from 3 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
dragonvslinux
on 13/08/2021, 08:13:32 UTC
⭐ Merited by El duderino_ (2) ,NeuroticFish (2) ,JayJuanGee (1)
I still see the local pocket of support that has a strong chance of bouncing the price back above this critical Daily MA, given the strong uptrend on the 4hr chart:



Well this was nice to wake up and see Cool Didn't even test the triple pocket of support, only the 50 MA and straight back up in an uber bullish manner  Cheesy



Despite being back above the 200 Day MA, there is a TD 9 Sell Signal to be cautious (currently shown as a Red 1),so I wouldn't get too excited quite yet:



Looking at recent data, these have been relatively reliable buy/sell signals (6 correct sells, 3 correct buys, 1 wrong buy).
My guess would be a 1-4 candle correction, unless the 9 is breached (similar to opposite of the yellow X scenario).
Patience is a virtue.