Bitcoin Bullish Setup◄

The daily Bitcoin chart is showing signs for a potential bull setup. First we look at price action:

I'm beginning to see rejection of lower prices but we'll want to wait for daily close to confirm. A white candle would confirm further. Next, we look at the bright blue moving average. Note how price does not like to be below this 300 MA.

Next we look at indicators:

Note the compression of my personal MACD-derived indicator. It's heavily compressed after a down move. Could mean explosive upside. Additionally RSI is very oversold and beginning to point up. Also, my On Balance Volume (dark blue) indicator is beginning to round up. Furthermore, the Kijun of my Ichicmoku is flat and my Squeeze and Fisher indicators look fine.

Last we consider market sentiment. There is so much fear :) that's when we buy. We sell when others are euphoric and indicators turn down. Keep an eye on daily close and scale into your positions.