BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Lower volume than prior uptrend indicates weakness, if you take a look on the weekly chart you can also see bearish engulphing candle that took off 3 weeks of uptrend in just one candle, in fact 85% of the retracement was given in 24 hours, this is something that we can't ignore, selling preasure was way too high, and it will probably show up its power again between $6740/$6850, zone where we have a Strong horizontal resistance, plus 100 daily ma and 20 daily ma of bollinger bands . For now there are no signs of reversal, no bear divergences in smaller time frames either, this reversal is most likely to happen in 2 or 3 more days, before the weekly candle closes on sunday 16.
Sep 14
Comment: Rally looking very weak already, $6595 resistance (blue line) looking stronger than expected, volume keeps low. I still expect to break 6k level close to the end of this week and go to new lows during next week. possible targets $5200/$5300
Sep 15
Comment: In smaller time frames we can see an accumulation zone and a formation of a bear div in 2h time frame, this can take price right to the short zone between $6740/$6850
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out