On the Daily BTC fired long on the Godmode indicator over 24 hours ago; RSI bounced lower than on 3/31 at 6450; MACD Histogram rising, MACD curling up toward a cross; Resting upon and within a confluence of major fib levels...
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If you think its still just going to 9100...this is what that will look like...
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Hidden Bullish Divergence on the Daily
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You know what happens when these touch...
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MACD Cross on the Daily chart...
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7971 Max for Potential Wave 5...
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Previous count with potential impulse voided... Looking for double bottom at 7052...ever decreasing volume; currently bouncing off trend line from 5811 to 6450...
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4 Hour RSI shows move down looking like wave 3.
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BTC bouncing of trend line support (6522-7058) for Wave 4; 4 Hour RSI nearing previous bottoming lows...
The trend line was broken with BTC falling below 6450...Count to be updated...
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A bull wick would have been ideal in breaching the trend line but the current daily candle is only showing indecision with a loss in selling pressure but a doji or green hammer on the close will be the sign of possible reversal in play.
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Daily RSI below the low of 2/4/18...officially no mans land now...
The indicators are not the problem. It's the amount of volume decline over the past several months. Regulation concerns and people getting burnt by BTC has lessened interest from new investors coming in. Institutional investment should refuel interested after regulation concerns are addressed. Just my opinion though.
BTCookieMonster
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@Iwagsz2, All good points, except for the volume concern- currently price and volume are declining (overall); had it been decreasing price with increasing volume that would be a major cause for concern. Remember from one of my previous major analyses that BTC traded sideways for approximately 6 weeks after the bottoming of the previous major crashes (8/2015 & 8/2016).
@Lukodashi, On Twitch, yes, and no longer on discord. YouTube will remain but I will be changing the format to video updates and brief TA sessions, TA requests and short segments. I have been traveling for most of the past 2 weeks, so just taking a break for a minute. Still highly active on twitter but enjoying life like it was meant to be when entering crypto, instead of sitting in front on my computer streaming for 9 hours a day to get screwed over and not paid (which is what the owner of CWN did). Going solo from now on.
Lukodashi
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@BTCookieMonster, makes a ton of sense, thank you for updating!! So I'm guessing you're going to lean on swing trading much more so you can live your life as well? Haha
BTCookieMonster
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@Lukodashi, I was never really into scalping, and the current market doesn't allow for very safe day trades (without using leverage, which I have yet to); I always preferred swing trading from the start.