cantestogo
Short

BFX - PRICE ACTION ON DAILY CHART

BITFINEX:BTCUSD   Bitcoin / Dollar
170 1 7
Looking at daily chart we can observe a strong buy signal when we dropped at 278 area, the buy crossover on MACD . We have to say that MACD gives the signals with some delay, but this is an analysis from a general point of view. Looking at MACD histogram we can see how it reached a peak and decreased arriving to zero line. Signal lines are now going to crossover, suggesting a sell signal. RSI , after the peak on 414 level, shows a sort of triple top and seems rejecting the 50 line. In this run up we haven't retraced the 0.5 and the 0.61 fib lines. So in my opinion the downtrend after 414 peak is not finished. If i had to suggest some numbers i could try with 345 area and 330 as nearest targets.
Good luck for your trading
cantestogo
2 years ago
And down it was
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