BTCUSD update

BTCUSD update

On October 26, the BTCUSD market had super-increased activity. This happened under the influence of news from China. What followed next? A narrow sideways dullness in which signals are not read very clearly. Nevertheless, we will try to do it.

After SLKT above 9600, …

1) Local #Panic (hidden strength signal) under the round level 9200
2) NS (lack of sellers)
3) This bar looks like a DB. what’s interesting – we have fresh signals of #Panic (1) and #NS (2), on the background These facts give more strength to #DB (3). This DB is a good time for the bulls to resume the positive trending. However…
… 3 red bars in a row followed next. The bulls did not use their chance.

4) As a result of failure of bulls, an ND bar appeared (local lack of buyers). And then – it is a wave of selling pressure (red line).

The current situation is more bearish. But it can change quickly due to the fact that the market is sluggish and is moving sideways. Let’s see if sellers can push the price through the long red support line. They now have every chance for this.

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