ItisCalvin

Going Sideways Likely - The Next 24hrs are Going to Be Critical!

BITFINEX:BTCUSD   Bitcoin / Dollar
Title is sort of a joke since you see that all the time in the Bitcoin community. lol

So the waves were in play this whole time. I figured there would be some much quicker movements for the last C wave but this one took me by surprise.

Now onto the TA... So I have seen this many times in my years (lol not really years) trading and this has a near 95% chance of resulting in some downward movements followed by some sideways action. What I see for the bears is that retracements always happen to some extent after such a big break. Now it remains to be seen how far down we'll go. I'm assuming somewhere in the range of 490 to 481.50.
MACD looks like it will get close and cross but may just barely go under before crossing again.

Little more worried that ATR hasn't peak yet even though we are peaked at the price. Semi troubling sign if it were actually increasing at a steady rate up. For now it appears to just be flat-lining and possibly reverse soon.

Now there is more on my blog @
http://www.allbitcointa.cu.cc/2014/05/lets-retrace-and-go-sideways.html
Well now we are SUPER Overbought, if that is even a thing, so we will see how this pays out. Broke out much earlier than expected but oh well. I was still holding so I had faith.
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
中国
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out