Hey everyone. Let me start by saying I made a mistake yesterday and bought too high. Just as it's never good to buy into a bull run, sometimes it's good to avoid selling into the panic. We have strong support at 9000 and panic selling everywhere. He have hidden bullish divergence on the RSI and MACD. We have the possibility of a reversal on the 4 hour RSI. The blue line I drew is our best hope for an uptrend. If it going to happen it's gotta be SOON. If we fall too far into the bearish channel I will have to put a stop on my position. Good luck everyone. Happy trading! (disclaimer - this is not financial advice)
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Bullish divergence beginning on the hourly!
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Dancing perfectly with my lines!
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Reversal beginning on the 4 hour RSI, as predicted! :D Should be a big week ahead!
That's crazy. You and I have basically the same thoughts. NICE :D
peakindicator
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Looks like I'm on fire the last few days :) My prediction on the price action came true and it looks like we are also reversing on the 4 hour RSI !!! Should be a big week ahead of us! Don't forget to thumbs up and follow the little guy over here accurately predicting the future ;)
Arpi2018
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I just posted this chart 3 days ago and looks like BTC following it closely. Both long and short term projection. Let me know what you think about it:
peakindicator
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@Arpi2018, I basically agree with it, but maybe stretched out over a longer period of time. Around april 11th we switch from abrupt peaks and valleys to slow steady growth. I feel it might be advantageous to view April 11th onward as a completely new pattern.
silmaril0875
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If you look at the last month's "recovery" you can see the projection seems mechanical. This means the movement was driving by people with some hidden agenda which we don't know, but it means we should have gone much lower than $6000. That also means this slow walk down, shows people are confused with what's going on and as soon as the panic sets in, the drop will be spectacular...
So based on that, I think you should evaluate the past month and try to understand the possibility of a turn around or down...
peakindicator
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@silmaril0875, Thank you for your thoughts! Yes, we are already in the bearish channel, so anything can happen. Right now we are dancing with that purple line and 9000 is holding strong. I do think, however, if we fall it will be gradual but if we uptrend it will be rapid! I'm hanging in until a see a distinct downside target. Good luck! Thanks for the debate :)