TradingView
DragosAlexandru
May 23, 2018 7:41 PM

BTCUSD 

Bitcoin / U.S. dollarBitstamp

Description

Bitcoin. Biggest crypto coin is still inside a triangle with a sharp fall in the last 3 days. Price finds itself at an interesting zone: almost touching a strong trend line, in that zone we also have the 0.786 fibonacci retracement. RSI almost oversold, last time in that area it was followed by a rise in price. We could have bullish movement soon; let's see if the trend line holds. Patience is the key to win!

Comment

tradingview.com/chart/NMZTf8CV/

I marked next trend line and if 7400 zone will not hold next target is 6900. If the bulls don't take control there, most probably a lot of people will freak out and will panic sell, but i think is not the case; anyway RSI is almost near the oversold line of 30 (it didn't drop under the 30 zone like last times we saw the market bottom and this makes me a little bit suspicious about the bull movement). For shorter time-frames going up is likely most possible because RSI looks very low.
Comments
btboy123
such a beautiful chart
DragosAlexandru
@btboy123, Thank you.
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