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BTC oversold was confirmed at around $16,980. This confirmation was reinforced by BTC 3-minute and 5 minutes charts. We needed 4 candle confirmations above the white MA and yellow MA
on the 3 minutes charts and 2 candle confirmations above the white and yellow MA on the 5 minutes chart. Disclaimer: a second non-public chart layout was used to officially confirm this oversold point.
$17,350 is the magical number we need to blow past to rally to the $18k zone.
For the short term, expect a 0.3% to 1.33% short rally.
Baseline Information:
The strategy used for this analysis takes into account the following factors:
Timeframe: 3min and 5 min
Symbols: BTCUSDT , ETHUSDT , BTCDOWN, and ETHDOWN
Exchange: Binance
Indicators: For obvious reasons, precise indicators names can not be provided, but this analysis makes use of VWAP , moving averages, and Fib charts.
Chart Count: 8
Disclaimer:
The information and publications are not meant to be or constitute financial, investment, trading, or other advice or recommendations.
BTC oversold was confirmed at around $16,980. This confirmation was reinforced by BTC 3-minute and 5 minutes charts. We needed 4 candle confirmations above the white MA and yellow MA
on the 3 minutes charts and 2 candle confirmations above the white and yellow MA on the 5 minutes chart. Disclaimer: a second non-public chart layout was used to officially confirm this oversold point.
$17,350 is the magical number we need to blow past to rally to the $18k zone.
For the short term, expect a 0.3% to 1.33% short rally.
Baseline Information:
The strategy used for this analysis takes into account the following factors:
Timeframe: 3min and 5 min
Symbols: BTCUSDT , ETHUSDT , BTCDOWN, and ETHDOWN
Exchange: Binance
Indicators: For obvious reasons, precise indicators names can not be provided, but this analysis makes use of VWAP , moving averages, and Fib charts.
Chart Count: 8
Disclaimer:
The information and publications are not meant to be or constitute financial, investment, trading, or other advice or recommendations.
Comment:
As predicted, this analysis worked out beautifully, and by the look of it, we still have some room to go up some more.