As I posted an update on this Bitstamp's BTCUSD , a floor was identified by my predictive analysis and forecasting system at 474.10 earlier today. See in this prior analysis how that target got hit dead-on: https://www.tradingview.com/v/Hokhgk71/#tc70000.
At this point, we should expect a relief rally in price. Overhead resistance exists at two levels, one at a structural 541.00, a second at the under belly of a momental , and lastly at a potential EAGLE range, defined between 565.53 and 578.18.
Although the arrow is there to highlight the high-probable areas of resistance, it may or may not define the path which price action might take.
Bears should be concerned if price action buoyed this crypto above the 578.18 value (i.e.: if a "BACA", or Break-Above-Close-Above, occurred).
However, independent of this price action, I expect that a market reversal would also occur IF price were to reach past the 541.00 structure, in which case I expect to be at the chart or close by, or likely be prompted by an active and anxious trader - In such a case, i would chime in as usual.
I have switched TradingView's "Market Direction Prediction" sign from SHORT to NEUTRAL, as this trader believes that a relief rally and consolidation is likely to put bears into question for the time being. A separate and price-independent predictive analysis and forecasting system remains , though.
Predictive Analysis and Forecasting
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