General: So, what we can observe is Bitcoin changed it's trend to Bearish based on Elliot Waves theory. My daily short-term prediction that i will reach 4380 resistance line, but then sudden fall until 3890 support line.
Indicators: MACD and DM showed downtrend on 31 of August, by looking at price peaks and indicators peaks we can observe bearish divergence and it's strongest signal for selling. Downtrend will continue till 17-19 of September and if price doesn't break support line, trend will change.
Bonus: There is also a chance that Chinese government will post news about new cryptocurrency regulation and trend may change, but that just a chance. Therefore, try to sell BTC when price goes to 4380 and prepare yourself for downtrend.
Indicators: MACD and DM showed downtrend on 31 of August, by looking at price peaks and indicators peaks we can observe bearish divergence and it's strongest signal for selling. Downtrend will continue till 17-19 of September and if price doesn't break support line, trend will change.
Bonus: There is also a chance that Chinese government will post news about new cryptocurrency regulation and trend may change, but that just a chance. Therefore, try to sell BTC when price goes to 4380 and prepare yourself for downtrend.
Comment:
Possible chart pattern.
Trade active:
Support line broken, target 1 reached, moving to new target 3211$