Still Bearish – Bitcoin Trading Ideas, Analysis

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We are flat, usually it happens so the market finds a strong point (where the average kama efficiency indicator reaches values ​​around 0.80-0.85) and stops, at this time it can go sideways or noticeably bounce.
In most cases we enter a side phase which is now defined by the usual bands I use (see table below).

BTCUSD – Daily Chart

What I would like to see is:

  • Some consolidation above the daily kama average, >$38,000
  • A first break of the first resistance band at $41,000
  • A trial of the 2nd band at $44,000
  • A healthy retracement to around $41,000
  • Final breakout above $44,000

This could be a recipe for a trend reversal on the daily chart.

$38,500 is not only the daily kama average but also the 2nd band of support on the hourly chart, I’d like to see bitcoin above these days on a possible build up before breaking above 41,000 $.

Fix in your head that as long as we stay below $44,000 (by the way it is also the monthly average of Kama) my opinion remains bearish.


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