BTC appears to be holding the Aug 22nd, 2017 low. The MACD is also trying to turn bullish, here on the daily chart. If price continues to hold the 8/22/17 low, we could see a relief rally with the potential of sending BTC up near $5,000. For that to happen, price obviously needs to hold this potential short-term bottom. Additionally, the extremely resistive 50 EMA (in orange) is rapidly falling toward price. The 50 EMA is likely to continue providing resistance, stifling any significant rally attempts. A failure at the 50 EMA would be a great sell signal. A confirmation above the 50 would be a game changer.
I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
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BTC is running into resistance now, at the 200 EMA on the one hour timeframe.
Hi, thank you for spending time for amazing analysis, but all you can refer my LEGENDARY ANALYSIS in September to buy BITCOIN in very good zone in this economic cycle:
Looks like a bull trap, bear flag, more pain to come.
danielmg
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Im glad youre back. I missed you
GR_Crypto
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thank's my friend
InvestingScope
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We have a similar dilemma whether this is short or long term bottom and it led us to the following study. We'd love your input on this:
Tokademics
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@InvestingScope, I don't think those two are correlated in anyway.
petesuave
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I'm no magic poop but I started buying in around 3800 riding the bubble out and cashing out around 12 hrs before the crash. I sold because even security guards at hospital I work at I noticed were listening to crypto podcasts and buying alts clear sign top of bubble. On the other hand when I started buying in at this level it was before cme futures... Before the random person on street knew what bitcoin was... It just seems like a good baseline and start to the bubble and I feel like just gut wise I've been waiting for 3800ish for soooo long. So in summary bullish for first time in a year or whatever it's been... So long
petesuave
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Anything is possible and the technical analysis might have pointed to it headed to 100 bucks... But can that even apply to such a bubble... Just how far it's come in terms of attention and platforms and legitimacy....options to trade... while still being the dark web coin of choice I don't think it could crash to below 3000 with any permenance...it was my buy point before and now again ...