BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Another possibility of double bottom ,
strong support @5k,
almost oversold,
in 4 hours timeframe RSI is still bullish .
Need more volume
Trade active: After touching major trend line, looks like it’s going towards 8k.
Trade active:

Falling wedge hasn’t been broken completely, still testing it. IMO, it’s going towards 8-8.5k. There’s high probability that it might jump from that area. Double bottom. We’ve found bottom imo. Hopefully uptrend would start once major resistance line gets broken.
Comment: It’s still following the chart.
Comment:

Hidden bullish divergence, let’s see where it takes.
9.5k is still holding. Good support. Indicators are in favour. Fingers crossed *
Trade active:

If you noticed, BTC has not broken “the upper lower trend”, it’s retesting again and again, I’m sure this time major resistance is going to get broken.
Trade closed: target reached
Rajmore,

1) You must use a logarithmic scale. Your reading is misled by your scale.
2) RSI and Stochastic indicators will always tell you the same thing. They behave exactally the same way. Use only one of your choice.

Take care,
+1 Reply
RajMore jim626
@jim626, thanks for correcting Jim, I’ll keep that in mind.
Reply
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