BTCUSD today analysis, 191002. Fall immediately? After rebound?
Hello, my friends. It's Cryptoranger K.
I continue to watch the charts today. Youtube or elsewhere told me that BTC will be the start of the grand prize from here. I had a hard time agreeing with them. BTC prices started to rise earlier this year at $ 4000, and in July they created a vertex at $ 1300. Since then, the price has created a pennant-like flow that eventually drops to its current price point. The question is, is this the end of the decline?
The chart shown above is a one-week chart. Stochastic fell quite a bit, but the MACD still seems to have just started to fall. Here I have to ask the following question again.
"Will it fall immediately or fall after rebound?"
Looking at the chart again, the current candle is quite far from the 5day line. This is one of the sayings of the stock market.
'The price is like a dog who went for a walk with the owner. It seems to be far from the owner, but eventually comes back to the owner. '
If you look at the chart you are seeing, you can see that the candle is far from the trend line in the short run and then returns right away. That's why I think there should be a rebound here as well. If the BTC rebounds here and shows it near the 5day line, I expect the high of the rebound to be near $ 9300. $ 9300 is also the previous low of the BTC price.
"Will this rebound lead to a steady rise?"
I am skeptical about this.
I continue to watch the charts today. Youtube or elsewhere told me that BTC will be the start of the grand prize from here. I had a hard time agreeing with them. BTC prices started to rise earlier this year at $ 4000, and in July they created a vertex at $ 1300. Since then, the price has created a pennant-like flow that eventually drops to its current price point. The question is, is this the end of the decline?
The chart shown above is a one-week chart. Stochastic fell quite a bit, but the MACD still seems to have just started to fall. Here I have to ask the following question again.
"Will it fall immediately or fall after rebound?"
Looking at the chart again, the current candle is quite far from the 5day line. This is one of the sayings of the stock market.
'The price is like a dog who went for a walk with the owner. It seems to be far from the owner, but eventually comes back to the owner. '
If you look at the chart you are seeing, you can see that the candle is far from the trend line in the short run and then returns right away. That's why I think there should be a rebound here as well. If the BTC rebounds here and shows it near the 5day line, I expect the high of the rebound to be near $ 9300. $ 9300 is also the previous low of the BTC price.
"Will this rebound lead to a steady rise?"
I am skeptical about this.
Comment:
<2week chart>
Comment:
<3week chart>
Comment:
Let's look at the charts for two and three weeks. The two-week chart has already created Dead Cross by Stochastic and MACD, while the three-week chart has also created Dead Cross. For this reason I want to say that I still have to wait until $ 6500. The decline has already started. There are only rebounds in this decline. Personally, I think trading in the downside, which is based on the 2day and 3day trends, is worth a try. Short-term trading is more likely to lose money.
As you know, the longer you look at the chart, the less volatile the price and the clearer the direction. In particular, if you look at the chart's standard for more than three weeks, the price is almost going in the direction of the trend. Then we can ask, "How does the trend change?" The answer to this question is "deep drop and fast rise or vice versa".
As you know, the longer you look at the chart, the less volatile the price and the clearer the direction. In particular, if you look at the chart's standard for more than three weeks, the price is almost going in the direction of the trend. Then we can ask, "How does the trend change?" The answer to this question is "deep drop and fast rise or vice versa".
Comment:
Comment:
<3day chart>
Comment:
If you look at the chart above, you will see two large squares. If you look at the price flow in the rectangle marked '1), you can see the repetition of the' candles' rapidly rising after falling sharply. And you can see that the flow is gradually smoothing the shape of the 20th line. Let's look at the point marked '2)'. Here, too, it changes the tide of the 20th by repeating a sharp drop and rise. If BTC is going to make a rise here, it's going to have to look like this sharp rise and fall. If not, at least the price should stay sideways for a while, and the three-week chart sub-indicators show a higher likelihood of a downside rather than sideways.
I still believe the BTC is falling. However, I think there will be a rebound in the near future, and depending on the size of the rebound, it will be necessary to decide whether the current price is at the bottom or further decline.
I feel it every time I live. It seems harder to defend than to make money. In particular, it seems more difficult to maintain assets in the coin market, where one mistake leads to a big loss.
I support you who did their best to make money today.
I hope my concern will have a positive effect on your trading.
Then be careful not to catch a cold.
Thank you.
I still believe the BTC is falling. However, I think there will be a rebound in the near future, and depending on the size of the rebound, it will be necessary to decide whether the current price is at the bottom or further decline.
I feel it every time I live. It seems harder to defend than to make money. In particular, it seems more difficult to maintain assets in the coin market, where one mistake leads to a big loss.
I support you who did their best to make money today.
I hope my concern will have a positive effect on your trading.
Then be careful not to catch a cold.
Thank you.