Bitcoin had a positive session yesterday, during which it made a new Lower High within the 1D Channel Down (RSI = 34.634, MACD = -439.400, Highs/Lows = 0.0000). It appears to be reversing now, keeping the Channel Down intact with a potential downside target (and Lower Low) at 7,500.
However based on the RSI sequence, a new inner pattern may be emerging and that is a Triangle that can limit the current reversal to only a Higher Low. As a result shorter term traders may only settle for a 7,840 downside target.
@Dalukingsley, Thank you. We appreciate the support.
UnknownUnicorn2774089
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Ouch, go short and get ruined, lost count of people calling it wrong
Husain_Arkghazi
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Nice work looks like we're moving towards the bullish zone most likely prices will retrace from 200 daily ma and could retest 7950 zone which could give us a perfect opportunity to execute our long positions however bottom upto 7500 looks unlikely for now coz bulls have beautifully protect the 7800 zone so most likely a new rally could take in action from here to keep moving prices upto 9070, 9250 or even 9750 zone
konikko
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Great news about bitcoin today.
Boon2
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Hmmmmm
ARESABI
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Sadly this one took a turn
ZoroCapital
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Interesting analysis. this is my take on the actual situation
Anpu
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Good work!
This is my recent idea about Bitcoin
Please share your thoughts on this
CryptoBullet
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our idea which is working just like we predicted, any thoughts?