BTC Market Watch 7/2/18 (Part 2)

Some very bullish things are showing up, and I feel it necessary to write a second article today.

As I said in part one, obviously the trend is down. On smaller time frames there are some signs of a continuation of the uptrend though that have peaked my interest.

The OBV volume indicator is showing building accumulation, without representation in the price action. This is the main point of interest for me this morning. The 20/50 possible EMA cross COULD be what price action is waiting on.

In article 1 I was talking about a very real possibility of another push up, but that trading bullish in a downtrend requires much more rigorous confirmations in order to be confident of a short term trend. This one certainly helps.

Look how the four hour chart moves to a new high without the price showing it.

Obviously nothing is ever set in stone, but this certainly builds the case for a bullish continuation.

Combine that with the fact that bears are a still licking wounds and a little shy to take a position now.

Thanks for reading,

-Icee-

Please leave me an upvote and remember this is not trading advice.