alberto1965

BTCUSD GANN SQUARE OF PRICE

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Simply Gann square of price min at 5498 and top at 19857. Various Gann trend Line levels captured the BTC             price and when broken from top BTC             went down to the lower trend line able to stop downside pressure for a period. What to say now !! Various indicators as RSI and MFI are bottoming and stay under negative trendline designed on the graph, so in my opinion market is bottoming too, but downside pressure is strong enough to retrace all the movement to the origin at 5498. Now we are in contact with 1x4 line which could be broken in favour of lower price reaching 1x8 line. Condition for a reversal pass trough a clean break of negative trendline on indicators. Stay tuned and look for trend reversal.


"A picture is better than thousands words"
Trade active: Market seems to have intention to retrace all the movement, first step 6990 area in contact with 1x8 Gann fan.
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