TonyTheBullSeverino

Bitcoin Signals Potentially Taking Shape on 3D Timeframe

As I mentioned in my post I don't have the best near-term read on Bitcoin. However, as we wait, signals will start to appear.

On the 3D timeframe, which was a primary driver of the explosive down-move, we have a TD9 buy setup. The daily version of this signal was the current local bottom. The 3D firing could lead to the bigger bounce towards mid-$80Ks.

This buy setup is supported by the RSI coming back above 30 (oversold). The RSI will generate a buy signal if it makes a higher high after coming out from below 30. If the 3D closes back below 30, selling could pick up steam and we get another leg down instead.

Price is also currently below the lower Bollinger Bands. A close below isn't great, while closing back inside the bands will support a possible reversal.

This isn't concrete enough, but we will watch these signals closely to get a better idea of if they're bullish or bearish.

Remember, though, the 3D death cross of the 50 and 200M