Descending triangle usually presents a clear resistance line. If it breaks below resistance, expect to see it fall as low as 2200. But the last two triangle patterns showed a break toward the upside.
MACD appears to be rounding up, which makes me feel optimistic. But the look of the MACD can change in a trading day. So until I see that line approaching a cross more realistically, I don't get my hopes up.
Both Bollinger bands, and Keltner channel (displayed) show that BTC is behaving within its channel and that the bands are tightening. Therefore, BTC less volatile than before. Price has actually crossed above the 20 day moving average, rather than bouncing off it as it has the last time. I am not expecting a dramatic break below resistance, but it COULD happen.
Williams %R shows overbought conditions on a shorter 7-day time frame, but comfortable within a 14 day time frame. Mixed results. Historically I have used the 7 day time frame (and even 4 days, to confirm the 7, but I feel like it's more useful during times of high volatility). So should I use the 14-day? Maybe wishful thinking.
A sell off to punctuate three days of upside? Or a breakout tomorrow out of the triangle???
A lot of nervousness over BTC community politics. BTC fundamentals are still what they are and haven't changed. Litecoin is already way better as a payment system. BTC is where to store wealth. Frankly, I prefer to hold one of the limited 21,000,000 coins. Period.
