(The red and green arrows are the Aurox Indicator and they recommend a buy or a sell. Red indicates where you should sell and green indicates a buy zone. Pretty simple indicator but rather effective if I do say so myself.)
Good morning everyone and welcome back to HeisenbergBTC's daily analysis of Bitcoin. Today we have the daily pulled up after a nice reversal over the long weekend (US). As we return back to the grind I see we are well above the low of nearly 16k over the weekend. Things look much better than 3 days ago that is for sure. Anyways I have a few things I would like to bring up so grab some coffee and pull up a seat.
I pulled up the daily time frame today as it has been quite a while since I shared the daily. Not because it is not important. I think the daily is the most significant time frame of them all. I have just not had much luck with the daily jiving with my set up (50 MA, 200 MA, Ichimoku cloud) The 4hr has been much easier for me in terms of my setup. But you should always cycle through to the major time frames multiple times a day. This ensures you dont overlook anything. For example... We had a nice bullish reversal candle form November 27th. When that candle painted we have 2 solid days of good gains coupled with today which looks solid as well. Those dojis are pretty reliable for the most part.
I also see that we have a decent gap below us. You see the CME closed Thursday last week, opened Friday, closed again Saturday and Sunday. Well we dumped nearly 3k on Thanksgiving. Recovered to around 18200 before the gap showed up. The gap for the long weekend is pretty large. From 17k - 18200 approximately. I dont know how many gaps we have below us but this makes it more than 4 I imagine. To be fair we have had a few of those gaps I mentioned on the chart for over a year. Gaps tend to fill quickly but this gap is quite large so only time will tell for sure if it gets filled or if we abandon the gap til the bear run shows up.
I have been talking a lot about the 4hr time frame so I will touch on that a bit this morning. We did escape the 4hr cloud within the last few hours. Being above the cloud is considered bullish. Although I would like to establish a confirmation candle to make sure this isnt a bull trap. The 4hr cloud gets really thin over the next few candles and it would not be surprising if the bears took that opportunity to drop us back below the cloud. Ive seen it happen quite a few times. Anyways we are back above that infamous 4hr 50 MA once again. Lets hope it holds like it did for most of the run from 10600 - 19500.
All in all we are recovering from the dump quite nicely. But let me remind you all that we are still not out of those woods. The bears are seemingly awakened from their hibernation. So my best advice is to set a stop loss. Dont be a hero. The weekly close yesterday looked quite bearish to me but it has not affected the market as I thought it would. Im still keeping an eye on things. As the western hemisphere awakens we will see the direction they want to take the market. I hope you all have an amazing day. Make good smart choices my friends. And as all of you probably guessed.... WTFDIK???
TLDR: Someone wake the bulls up!! We got an ATH to smash! Things looks surprisingly bullish on the daily. Weekly not so much. Big gap below us. Stay tuned!!!
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