Today i take a look with BTC week chart and this TA for who work on exchange not margin.
- We have hidden RSI bearish divergence from 21/10/2019 to now, it mean, if price of BTC in next few weeks can not up above 10k5, it will drop to at least 8k.
- We have bullish triangle pattern with corrected points at A B and C now we wait D point at level 10k8-11k2 and point E at level 7k-7k3
In my point of view, 2020 and 2021 is the year of cryptocurrency if they not back to the dust.
So my advice is:
1: if it break point D it will up atleast 2/3 height of triangle (13000usd) is 8k-10k usd from break level 10k8 and we will meet level 14k and higher is 24kusd this year.
2: If it break point E at 7000-7200 level, we should wait and buy at lower range is 6k and 5k.
Technichcal analysis is a gambling with assistance and support zone. So we just try our luck.
Good luck everybody.
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Good, it go above 10500 and need retrace to 10k-10k1.
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Retrace to 9100-9400.
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Retrace zone 8400-8600 done!
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Buy Zone active.
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We see, this is RSI bearish devergence when BTC can not up above 10k5 as i predict 2 months ago.
> Price drop atleast 8k. Break 7k6 > drop buy zone 5100-5500.