Chart
- BTC on the weekly timeframe. Weekly is not the strongest macro timeframe. Sometimes proves false signals.
Dragonfly / Gravestone Doji
- Highlighted in the green are the dragon fly doji's (recent signal doesn't close until Sunday)
- Highlighted in the red are the gravestone doji's
- Arguably the strongest significant Japanese Candle Stick for trend reversals.
Link: www.fxdayjob.com/dra...-and-gravestone-doji
RSI:
- Decreasing RSI + Increase in Price = Hidden Bullish Divergence
- Increasing RSI + Decrease in Price = Hidden Bearish Divergence
- Note that in summer of 2021 we had the same confluence in the chart.
MacD:
- Classic bullish divergence on the weekly.
- Note that bigger timeframes (Monthly, 2 week) are bearish.
Moving Averages:
- 50 Day $47,000
- 200 Day $20,000
Analysis:
- This is a high-risk trade b/c of current events.
- Fed is set to have a meeting regarding equities in March. (Likely to be very negative)
- I predict a further continuation rally here. May not bring us to ATH but, a recovery rally.
- Most importantly, do your own research. Strive to be a better trader every day.
- BTC on the weekly timeframe. Weekly is not the strongest macro timeframe. Sometimes proves false signals.
Dragonfly / Gravestone Doji
- Highlighted in the green are the dragon fly doji's (recent signal doesn't close until Sunday)
- Highlighted in the red are the gravestone doji's
- Arguably the strongest significant Japanese Candle Stick for trend reversals.
Link: www.fxdayjob.com/dra...-and-gravestone-doji
RSI:
- Decreasing RSI + Increase in Price = Hidden Bullish Divergence
- Increasing RSI + Decrease in Price = Hidden Bearish Divergence
- Note that in summer of 2021 we had the same confluence in the chart.
MacD:
- Classic bullish divergence on the weekly.
- Note that bigger timeframes (Monthly, 2 week) are bearish.
Moving Averages:
- 50 Day $47,000
- 200 Day $20,000
Analysis:
- This is a high-risk trade b/c of current events.
- Fed is set to have a meeting regarding equities in March. (Likely to be very negative)
- I predict a further continuation rally here. May not bring us to ATH but, a recovery rally.
- Most importantly, do your own research. Strive to be a better trader every day.