I would take some profits and stay aside until the current crash will be finished. TA I´ve eliminated all trend channels out of the past because BTC has broken through all lower limits. I´ve added a new descending trend channel as orientation.
Next support line is the 0% fib retracement (new) that is also the older fib retracement 61.8%. (10.700$) This line has been tested on dec 22.
indicators: RSI: below 50 but not oversold MACD: falling below zero ADX: -DI above 20 / +DI below and momentum is rising (for the negative trend)
conclusion: the negative trend hasn´t yet ended - probably it´ll stops on lower limit of descending trend channel / support line accumulation only if trend stabilizes above these lines and only with positive momentun
Trade active
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Indicators are now showing oversold situation - perhaps the beginning of stabilization BTC shouldn´t fall back beyond 10.000$ (Bitfinex).
But MACD is below zero, last time was there 5 months ago. And RSI did not touch 30 yet. You really think it is over?
Luettis
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@webmi, I think most is over - for the moment! Of course all indicators are in negative terrain - what do you expect after two days falling prices? MACD just triggered and slowly rising, RSI is weak but not in oversold terrain, ADX negative - falling momentum. Often at noon we got a negative momentum (I don´t know why at noon UTC+1) - so perhaps we wait until afternoon. We´ll see.
Ethernal27
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it's the end...
Luettis
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@Ethernal27, I won´t go so far! But it is correction. Think we´ll see better times in 2018.