191111 BTCUSD analysis. "After all, Bitcoin is on its way."
Hello, my friends. It's Cryptoranger K.
The bit chart is not very pretty right now. It's not so easy to analyze because of the sharp rise called Jinping Beam after the sharp fall. So I thought I should focus on the flow of the MA lines, not the movement of the candle.
The candle was made this week, creating a 5 & 10 day line of intersection on a 1-week chart. The definition of what this intersection looks like is called Golden Cross, but the problem is that the current price is below the intersection. Generally speaking, the Golden Cross should serve as a support for the price, but this crossing is likely to remain a resistance. The weekly Stochastic made the Golden Cross, so you might think of a rebound. However, as I mentioned in the previous post, considering that the 1-week MACD and 2-week Stochastic flows are still declining, I expect the current price flow to move sideways in the box, rather than rising.
I still think Bitcoin will fall to $ 6500. Of course I'm also considering the possibility that the price won't drop to $ 6500, but I basically think of $ 6500 as the bottom. More precisely, what I'm waiting for is not the bottom, but the 'reduction in price volatility'. Volatility diminishes, waiting for the moment when the 20 and 5 and 10 day lines intersect.
The bit chart is not very pretty right now. It's not so easy to analyze because of the sharp rise called Jinping Beam after the sharp fall. So I thought I should focus on the flow of the MA lines, not the movement of the candle.
The candle was made this week, creating a 5 & 10 day line of intersection on a 1-week chart. The definition of what this intersection looks like is called Golden Cross, but the problem is that the current price is below the intersection. Generally speaking, the Golden Cross should serve as a support for the price, but this crossing is likely to remain a resistance. The weekly Stochastic made the Golden Cross, so you might think of a rebound. However, as I mentioned in the previous post, considering that the 1-week MACD and 2-week Stochastic flows are still declining, I expect the current price flow to move sideways in the box, rather than rising.
I still think Bitcoin will fall to $ 6500. Of course I'm also considering the possibility that the price won't drop to $ 6500, but I basically think of $ 6500 as the bottom. More precisely, what I'm waiting for is not the bottom, but the 'reduction in price volatility'. Volatility diminishes, waiting for the moment when the 20 and 5 and 10 day lines intersect.
Comment:
Comment:
(BTCUSD 1 week Invert Chart)
Comment:
This is a BTCUSD one week invert chart. You can see that the 5 & 10day lines intersect with the 20day line. Real experts make judgments based on accurate data, and I've been studying charts like a geek for a long time alone and approaching them from a humanistic perspective. I basically see Bitcoin as a person, and I think the flow of BTC prices is an emotion. So I think that when it starts to show direction, it needs to reach a peak in that direction again to find stability and to reverse.
Based on my approach, I can only accept that the 5 & 10day line intersects with the 20day line is clear. Especially, the price volatility is not large since it is the standard that goes from the peak to the mid- to long-term.
I will continue the story based on the invert chart.
I think now BTC will fall. However, the 5 & 10day lines created an intersection, and the price of the one-week candle stays above that intersection. If next week's candle still builds above its current intersection, it's expected that the candle will come down 5day ine for two or three weeks and rise again to support the $ 9300 price range. More precisely, the moment the MACD histogram produces a rising signal and the stochastic is about to change direction, it will be the timing that should again take the 'Short' position.
If you look at the 10-day line of the chart, you can see that it is creating a fairly stable flow. I believe that no matter how much money a person shoots something like Jinping Beam, the average flow will not change in the end. So don't be anxious, I hope you will trade reasonably.
Today's analysis is up to here.
Everybody wants to make a lot of money. So do i.
But before I make a lot of money, I think it's a top priority to protect your assets.
I think that money is to go to a qualified person.
I'm not making aggressive investments because I don't think I'm qualified for it yet. But I believe that if one day I become such a qualified person, money will naturally come to me accordingly and not leave.
I hope you will continue to invest successfully.
Thank you.
Based on my approach, I can only accept that the 5 & 10day line intersects with the 20day line is clear. Especially, the price volatility is not large since it is the standard that goes from the peak to the mid- to long-term.
I will continue the story based on the invert chart.
I think now BTC will fall. However, the 5 & 10day lines created an intersection, and the price of the one-week candle stays above that intersection. If next week's candle still builds above its current intersection, it's expected that the candle will come down 5day ine for two or three weeks and rise again to support the $ 9300 price range. More precisely, the moment the MACD histogram produces a rising signal and the stochastic is about to change direction, it will be the timing that should again take the 'Short' position.
If you look at the 10-day line of the chart, you can see that it is creating a fairly stable flow. I believe that no matter how much money a person shoots something like Jinping Beam, the average flow will not change in the end. So don't be anxious, I hope you will trade reasonably.
Today's analysis is up to here.
Everybody wants to make a lot of money. So do i.
But before I make a lot of money, I think it's a top priority to protect your assets.
I think that money is to go to a qualified person.
I'm not making aggressive investments because I don't think I'm qualified for it yet. But I believe that if one day I become such a qualified person, money will naturally come to me accordingly and not leave.
I hope you will continue to invest successfully.
Thank you.