Hello investors and traders. Since my last TA , EWT brokes uptrend and now remaining in downtrend canal, making lower highs and lows. Actually sitting at my 1.272 Fibo around median line of this channel. Volumes are still around average. Beam indicator in buy zone , however not relevant until bottom confirmed.
So I am staying in neutral mode and bring you chart to watch. Markets are waiting for US election results. It's rule that markets often falled during pre-election period.
I can see ascending formation at Bitcoin chart which is possitive sing for now - until breakdown. For bullish confirm, EWT needs to break and hold above moving averages and especially above blue-dot line. On the other hand, if median of channel will broken, more downside should appear.
That's all so let's wait more to see what will happen : )
*This is not a financial advice.
Thanks for watch, Emvo.
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Let´s wait if EWT can breaks from downtrend channel and do a higher high.
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While high caps rising, EWT just consolidating below the most important resistance and MA200 ( green ) at 4H chart.
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EWT made new low. Technically is never a good sign.
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EWT broke out of channel and now is testing as support. However, one condition still not meet. Green 200MA breakout:
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Breakout testing downtrend channel as support.
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EWT made quick recover.
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EWT needs to break above MA200 ( green) for more bulls.
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Surged above MA200 at 4H timeframe.
Trade stängt: målet nått
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My TA done its purposes. EWT bounce from middle of channel above, confirmed and now is above MA200.