Hello,
All the previous ideas posted for Bitcoin are closed since all of them reached targets with no exception.
I'm expecting a drop in the price for one more time before going long.
Lets get right into it:
So there is a clear pattern in the chart since the downtrend started which is shown on the chart. Basically, the price goes down to a Fib level (1), goes back up to a previous Fib level, then back down to the lower Fib level (2), then back up to the trendline (3) and falls down hard from there.
This was repeated twice so far, and a relation between this and the MACD can be seen as marked.
Right now we went through step (1) and (2) and we are in the process of the 3rd step. So I'm expecting a rise in the price to the trend line then one last fall. If the price breaks above the trendline, then this is a strong reversal confirmation, meaning that its time to go long.
@DCFreaks
All the previous ideas posted for Bitcoin are closed since all of them reached targets with no exception.
I'm expecting a drop in the price for one more time before going long.
Lets get right into it:
So there is a clear pattern in the chart since the downtrend started which is shown on the chart. Basically, the price goes down to a Fib level (1), goes back up to a previous Fib level, then back down to the lower Fib level (2), then back up to the trendline (3) and falls down hard from there.
This was repeated twice so far, and a relation between this and the MACD can be seen as marked.
Right now we went through step (1) and (2) and we are in the process of the 3rd step. So I'm expecting a rise in the price to the trend line then one last fall. If the price breaks above the trendline, then this is a strong reversal confirmation, meaning that its time to go long.
@DCFreaks
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*Note... this isn't a buy signal.
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If it breaks 9500$ and closes that would be a confirmation of an upward trend to the upper level of the downtrend.
I'm still bearish, but this could be a wave worth riding. (IF it breaks 9500$)
I'm still bearish, but this could be a wave worth riding. (IF it breaks 9500$)
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watch out from drops couz the market is fishy or I'm just not understanding it.
the volume and long period indicators don't indicate a bull run but we are getting one... so just have a stop loss and be careful.
the volume and long period indicators don't indicate a bull run but we are getting one... so just have a stop loss and be careful.
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Just a quick note before I sleep, Volume MA is going down, but price is going up.
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Here is the final chart which goes through most of the possibilities for the next couple of month
