What's next? Up To 116 Million or Back To 80 Million
Have a nice weekend, how do you feel now?
We are waiting for the weekly candle to close which will give an idea of what will happen next in bitcoin trading (BTCIDR).
In the last two weeks, we see that the weekly candle closes up but has a long low shadow indicating high trading volume but we get a bearish signal on the MACD and RSI indicators.
In the current trading bitcoin is below the trendline (blue) indicating a decline will occur towards the support line at 92 million. Low volume and RSI and MACD indicators show we are still on a bearish signal and
if this continues it will go to the next support line in trading 80 million, 72 million, 66 million and even will return to strong support at 58 million.
If prices turn up past the trend line, we will move towards 116 million trades.
Will bitcoin be a strong attraction as a refuge in the current global economic crisis?
Will it be the same as stocks and indexes that decline amid the global economic crisis?
Please share with us in the comments section below!
regards,
Michael
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Disclaimer!
This post is only as a means of information and discussion. All your trading plans must be based on your own research. This trade is very risky so it must be careful and is your own responsibility.
We are waiting for the weekly candle to close which will give an idea of what will happen next in bitcoin trading (BTCIDR).
In the last two weeks, we see that the weekly candle closes up but has a long low shadow indicating high trading volume but we get a bearish signal on the MACD and RSI indicators.
In the current trading bitcoin is below the trendline (blue) indicating a decline will occur towards the support line at 92 million. Low volume and RSI and MACD indicators show we are still on a bearish signal and
if this continues it will go to the next support line in trading 80 million, 72 million, 66 million and even will return to strong support at 58 million.
If prices turn up past the trend line, we will move towards 116 million trades.
Will bitcoin be a strong attraction as a refuge in the current global economic crisis?
Will it be the same as stocks and indexes that decline amid the global economic crisis?
Please share with us in the comments section below!
regards,
Michael
-------------------------------------------------------------------
Disclaimer!
This post is only as a means of information and discussion. All your trading plans must be based on your own research. This trade is very risky so it must be careful and is your own responsibility.
Say what you think about the following choices:
1. Prices have exceeded 116 million and upward movement at least to 132 million. ($8000 assuming the current exchange rate is Rp. 16,500).
2. Prices will sideways between 92 million and 116 million
3 Prices will be corrected towards 80 million support
Please share with us in the comments section below!
regards,
Michael
-------------------------------------------------- -----------------
Disclaimer!
This post is only as a means of information and discussion. All your trading plans must be based on your own research. This trade is very risky, so you must be careful and become your own responsibility.