Ignore the purple ascending triangle! The interesting signal is yesterday's candle. In a single day IDBTC moved down to reach 612 satoshis, in this same day it recovered all looses and then managed to break above EMA10, EMA21 and EMA50, as well as MA200 and close the day at 781 sats, 27% higher from its daily low.
This means that massive bear pressure came in but all selling was quickly bought by the bulls.
This is a famous failed bearish signal.
Since it is a failed signal for the bears, it works as a strong signal for the bulls.
The bullish bias is now active and valid for the coming days.
As long as IDBTC trades above EMA50 (714 sats), we can expect growth short-term.
Namaste.
This means that massive bear pressure came in but all selling was quickly bought by the bulls.
This is a famous failed bearish signal.
Since it is a failed signal for the bears, it works as a strong signal for the bulls.
The bullish bias is now active and valid for the coming days.
As long as IDBTC trades above EMA50 (714 sats), we can expect growth short-term.
Namaste.
Note
First target hits... We wait patiently for the next -higher- targets.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.