BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Noting accurate Fibonacci retracement levels,
150 and 400 EMA and the RSI we can scout for the buys / the bottom.

150 EMA:
As you can see, over the history of BTC , we regularly dip to
and even pierce the 150 EMA , this is usually our buy signal.
What doesn't regularly happen is a candle opening and closing UNDER the 150 EMA ... ( bearish reversal candle)

The bearish reversal candle indication coupled with the breaking of a 45 day trendline meant
that a bounce off the 400 EMA ($6000) was expected. (Hindsight is 20/20)

400 EMA:
The last candle that opened and closed UNDER the 400 EMA
was in the June of 2014 - The year of the Mt Gox hack.
an 85% retrace and year-long bear market.
Note: I believe the market is too established and adoption is happening
too quickly to keep price at this level for very long.

On this 4h chart we can see that this may not be the bottom.
Reversal still not confirmed (for me) until we bounce off the 150 EMA .
and a strong 4 hr push with volume and a break of the top trendline.

The RSI situation is interesting as on the 1D chart. We are the most oversold
we have been since August 2016.

Verdict, a number of analysts who I respect greatly think this is the bottom, I'm not so sure.

I expect one last trap and the bottom out at in the 5500 range unless we can get on top and bounce off the 150 EMA first.

Note: I have bought twice already and will not buy more unless we break out of the top trend-line with VOLUME or hit 5-6k.
Comment: Updates coming in the form of new ideas.

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Still, on track for another low, (This is where I get caught out) but I do not think a lower low, the momentum hasn't been strong enough to constitute any real reversal signs, the bulls still have time but I believe the overall sentiment is in favour of the bears, with that being said, I don't think we break the lower trend line again.

If we do, we re-evaluate.

Good luck everyone, in whatever position you choose.
Comment: What incredible price action!