thejerichoway

1W, 3D BTC analysis

BITFINEX:BTCUSD   Bitcoin
1W
  • divergence on MFI, RSI, StochRSI
  • nice double top formed, which should end up between 9100-9365 in order to be complete
  • BB - looking for the touch with the SMA20, between 9100-9300 as well

3D
  • divergence on MFI and RSI
  • RSI
  • looking for a bounce from the 50 line
  • the last time we went <50 was basically the start of the bear market

BB
  • seems to be rejected by the SMA20
  • scenario for the side-to-side play ends roughly on ~9200
  • starting to narrow down

1D

  • price seems to have dipped bellow the top-channel-line, which acted as a support
  • the current triangle still seems to hold


Overall, lots of divergences and numbers pointing to the ~9000 price, therefore I'm slightly more bearish than bullish.
Comment:
Might be worth adding the S/R lines to the big picture as well:
- green - 1D
- orange - 3D
- red - 1W

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