Researching something of interest here. Looks like a 3 white soldiers pattern off of the support line. Need to see how this new Tuesday candle ends up.
Here's some data I've come across.
What Does the Three White Soldiers Pattern Mean?
Why the Three White Soldiers Pattern Is a Bullish Indicator
Typically occurring at the end of a downtrend, the three white soldiers consists of three large bullish
candles, each closing higher than the last. However, there should be no gaps between candles—each candle opens within the body of the one preceding it.
In addition, the upper wicks are short or non-existent, indicating that bulls managed to keep the price of the security near the height of its range for the period. The wide trading range reflected in the large bodies of all three candles and the lack of any substantial upper shadow indicates the strength of bullish momentum. As with any reversal pattern, an expansion on volume accompanying the three white soldiers lends additional strength to the signal.
Could say its a downtrend cuz its near the support line. Each candle did close higher than the last and opened within the previous one's body. Upper wicks look fairly even plus the volume at the bottom looks nearly even for all 3. The last red one is today but that just started.
This website
A trader’s guide to the three white soldiers candlestick pattern
Says to test it with something called the RSI and its currently at 49.80. I had to erase my ichimoku cloud cuz the free version of tradingview is limited so I can't have so many indicators.
How to Use RSI (Relative Strength Index) in Forex
Typically, readings of 30 or lower indicate oversold market conditions and an increase in the
possibility of price strengthening (going up).
Some traders interpret that an oversold currency pair is an indication that the falling trend is likely to reverse, which means it’s an opportunity to buy.
Readings of 70 or higher indicate overbought conditions and an increase in the
possibility of price weakening (going down).
Some traders interpret that an overbought currency pair is an indication that the rising trend is likely to reverse, which means it’s an opportunity to sell.
So if it says 50 now, in the middle between 30 and 70 so hard to tell.
Altho I now see this:
In addition to the overbought and oversold indicators mentioned above, traders who use the
Relative Strength Index (RSI) indicator also look for centerline crossovers.
A movement from below the centerline (50) to above indicates a
rising trend.
A rising centerline crossover occurs when the RSI value crosses ABOVE the 50 line on the scale, moving towards the 70 line. This indicates the market trend is
increasing in strength, and is seen as a bullish signal until the RSI approaches the 70 line.
And to show the new pic:
So if that purple line on the bottom graph looks to be trending up and they say a crossover the 50 line is bullish, that combined with the 3 white soldiers pattern must be bullish. It looked like it tried and got denied recently but that was without the 3 white soldiers pattern. And then it has dropped each time it hit past that 70 mark outside the purple box. I think things are bullish until that 70 mark and then it be smart to take some profits. Still gotta wait and see how Tuesday ends but the market has some decent support and a few bullish indicators.
To summarize for BTC, its currently at 47.32 on that chart with potential to crossover that 50 line soon enough as well. ETH at 54 so its bullish. I'll have to leave the indicator on for at least the MC chart to see when it gets close to 70.