Overall view of Market direction using the weekly to foresee possible exit/rise positions.
Break of Weekly 50MA is worrying as has been years since this was the case.
Rapid rise during Nov/Dec gave little chance for supports to be established under $5800 and would worry most investors if the possibility arose.
1st July (which may see action early, due to 20th June Cboe Ftuures expiry/27th June CME Futures Expiry) will be decisive as Trend Line (dashed blue line) which has been a resilient support during entire crash, its actually been the saving grace & would be concerned if broken, meets the Ichimoku cloud (years since been broken). Direction is dependent on current fight between bulls/bears @ $7900 & where the markets heads leading into this timespan.
Manipulation on speculation of Futures at the end of the 2017, I believe rose the price from $2000 - $20000 so it would be feasible that if funds are removed in range under $5800 due to risk would add pressure downwards (would exchanges "allow" BTC to get to these prices?) ....cause I worry Volume not setting mean reversions as we are back on low 24HR BTC - 4Bln
Sharp price action rose BTC to $10000 at the start of April from $6600, so again this should be taken as possible support bottom which seems again would need manipulation to impede further downward pressure.
Would love to see Positive news...which should come in the short term, whereas Weekly chart poses that BTC has a decision that will eventually provide forward direction, my previous analysis showed $10000 July so lets hope for little wins up to that point.
BTC is seeing some tough times , so I should write this:
***Education Purposes only***
Break of Weekly 50MA is worrying as has been years since this was the case.
Rapid rise during Nov/Dec gave little chance for supports to be established under $5800 and would worry most investors if the possibility arose.
1st July (which may see action early, due to 20th June Cboe Ftuures expiry/27th June CME Futures Expiry) will be decisive as Trend Line (dashed blue line) which has been a resilient support during entire crash, its actually been the saving grace & would be concerned if broken, meets the Ichimoku cloud (years since been broken). Direction is dependent on current fight between bulls/bears @ $7900 & where the markets heads leading into this timespan.
Manipulation on speculation of Futures at the end of the 2017, I believe rose the price from $2000 - $20000 so it would be feasible that if funds are removed in range under $5800 due to risk would add pressure downwards (would exchanges "allow" BTC to get to these prices?) ....cause I worry Volume not setting mean reversions as we are back on low 24HR BTC - 4Bln
Sharp price action rose BTC to $10000 at the start of April from $6600, so again this should be taken as possible support bottom which seems again would need manipulation to impede further downward pressure.
Would love to see Positive news...which should come in the short term, whereas Weekly chart poses that BTC has a decision that will eventually provide forward direction, my previous analysis showed $10000 July so lets hope for little wins up to that point.
BTC is seeing some tough times , so I should write this:
***Education Purposes only***
Comment:
Comment:
Possible short term rise on the cards: Hourly check
RSI moving just outside strong undersold position, its fluid around here, meaning it may hold position until price action dictates, although the Daily shows slightly stronger position for a rise
MACD on the turn although may need help from volume to achieve 24HR 5Bln, dnt want to see it slip into 4's
RSI moving just outside strong undersold position, its fluid around here, meaning it may hold position until price action dictates, although the Daily shows slightly stronger position for a rise
MACD on the turn although may need help from volume to achieve 24HR 5Bln, dnt want to see it slip into 4's
Comment:
.....& about the same for the Daily