A decision will be made to move to 3446 then 3162 or head to 4419 then 4934.
Many of the ALTs are showing this similar setup and BTC has to make its move out of this green triangle. .
Normally for a bullish move to occur the CMF has to be moving up and pointing upwards and it also has to be above its mid-line - But in BTC's current case the CMF has slipped below the mid-line and is trending and sloping Downwards , .
However looking closely at BTCs current CMF move it appears to be a deceiving move as when a trend line is drawn against the CMF ( the green arrow ) The CMF trend is actually not moving downwards but the CMF is actually sloping and moving upwards which can be interpreted as BTC remaining bullish.
Many of the ALTs are showing this similar setup and BTC has to make its move out of this green triangle. .
Normally for a bullish move to occur the CMF has to be moving up and pointing upwards and it also has to be above its mid-line - But in BTC's current case the CMF has slipped below the mid-line and is trending and sloping Downwards , .
However looking closely at BTCs current CMF move it appears to be a deceiving move as when a trend line is drawn against the CMF ( the green arrow ) The CMF trend is actually not moving downwards but the CMF is actually sloping and moving upwards which can be interpreted as BTC remaining bullish.
Oscillators are unreliable for determining breakout direction. In fact I avoid oscillators entirely. They lend themselves to curve fitting and people tend to ignore more important signals, like actual price action and S/R breakouts. I'm also wary of drawing trend lines on oscillators, especially multi-faceted oscillators like CMF since they become so far removed from real price data. I tested these methods years ago because other people seem to use them but they just don't seem to perform well.
Better just to wait and see, then trade the breakout. There's quite a lot of gas in the tank once we break $3,650 or $4,200.
