capoeira

possible reverse in sight

BITSTAMP:BTCUSD   Bitcoin / Dollar
297 7 5
1), I forgot to include RSI . it will be in oversold ranges soon. at 550 it will be defently oversold

around 550 we have also:
2) the very important 50% fib line
3) a very strong suport (blue crosses)
4) soon erverybody will be bearish ; strong signal that it turns lol (this is not too serious, but think of it: when all short and midtermers are bearish , it means everybody sold - means noone left to sell)
5) on Huobi, which, let's face it, is the boss in this market, the 50% fib is at 3450....under 3450 we have thousand of bids until 3400. atm 3400 has 7k coins to sell

the rest is not meant to be accurate; i don't believe in target predictions.
but, after the reversal in a)
in b) will have a lot of restistence (pink crosses) + the 50% fib from the downtrend + 600 as psycological resistance
this could be or broken and rally goes on up to d); where we can expect more restistance
or the reversal turns out beiing only a correction of the downtrend bringing us to c again, which would make the support very weak in comparision with now and could lead to a deep fall.
we hit b) and for me it looks like we are going c)
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Also... rsi wants to go to 24 as per previous sell offs
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capoeira SunnyBTC
thing is that many things come together here.
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Thoughts? (check comments too)
Stamp is looking mighty bearish
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capoeira SunnyBTC
will coment there
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daily just closed at RSI 29
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description added
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