TradingView
Casey7485
Jun 7, 2018 5:27 PM

Bitcoin wave analysis Short

Bitcoin / U.S. dollarBitstamp

Description

I think that
- from 9950 to 7000 that was a set of 9 wave(with 5th extention).
- now it's the corresponding retracement of that 9 wave.
- they are 1,2 wave of big C wave to 5000.
- stochrsi is overbought.
- 1D chart rsi(hlc3) is already 45, which is big resistance in such bear market.

conclusion: price may drop from 7800 hopefully.

Comment


now raising wedge is forming, which indicates small price rise then drop

Trade active

support reached

Comment



rsi 45 strong resistance

Trade active

Comment

4th wave in wave C is nearing end
More