alexcrypto

$BTCUSD - Bounce off the Kijun on 6H or keep correcting

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
As per previous price action, we bounced off once again from the 6H Kijun line.

Indicators show oversold conditions, so a retrace to higher is probable, however the overall picture is a bit different this time than the previous 2 bounces (highlighted by the yellow circles)

- RSI / CCI have both extended in the bearish territory
- MACD shows that a sell off momentum still in place

From here we can either continue the rally or correcting further as per my long term analysis (see below)

Trade safe.

Comment: Bounced from the Tenken as per the analysis
Thanks Alex, much appreciate :-)
+1 Reply
@tingui, you're welcome
Reply
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