R - Reversal
C - Confirmation
F - Failed
Didn't get rejected from basis of BB and have confirmation from current daily candle. Breaking $8k could be considered tricky.
Targets: 8,3k and 9k
Invalidation of current bull scenario is under $7k.
Another thing: I overlayed the 2014/2015 fractal. Might be interesting or worth nothing. Let's see.
Big move about to happen -> three reversal candles in a row!
You can see possible targets in the chart above.
Reversal candle developed last week. Working on confirmation of bearish continuation, but we will have to wait until this sunday to get a clear confirmation.
- RSI developed clear bearish divergence
- price bounced off of base line of BB
- weak support at 7k resistance
- bounce off of orange line (somewhere in the $5k region)
-> if this is not holding up, sub $5k is imminent.
We got confirmation of bearish continuation yesterday.
Targets are 6k and 5k
I don't trust the reversal. We only had one bottom on the Bollinger Bands which isn't enough for a full reversal imo. Additionally, BTC touched the midline (BB) and is nearing a bearish div on the RSI. We could get some short term relief but the overall trend remains bearish. I'm still looking at 6k and 5.3k for possible support zones.
Good thing to don't trust. Got reversal candle yesterday and working on confirmation this week.