tommyelltom

BTC - the next stop is a double bottom

tommyelltom Updated   
BITFINEX:BTCUSD   Bitcoin
Same situation like before. History repeat and thats it.
See MACD. Who needs more.
Supports lvls 7200-6000.
6000 - double bottom!

Have a lucky trading guys!
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We have to close below the strong resistance cloud at 8500.
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MACD 30m is bearish. We shall see what happens.

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Also we can see in 5m frame a bull flag formation.

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If we break 9900 next strong resistance is 10200.
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Fractals.

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Range change.

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Ok, we have reached that point of range and now consolidation.

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Triangle formation. What direction will he choose ?
I think downward breakout is more possible in this case.

MACD timeframes 30m,1H,1D signalize a bearish trend.

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The first stop can be at 8200 and then 7500.

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Ok, we got it and now consolidation again.

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Next support target 7200.
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Loose flag maybe.

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On the chart above we can see ascending broadening wedge.
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Bearish div in 1H TF.

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Bearish div 15m.
I expect bounce from MA 200.

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Comment: Next support 8200 then 7900.
If we can close below 7900 1H candle that should be activate super bearish signal.
Keep eye on it!


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