OES chart shows all elements within acceptable Fib. metrics.
200 Daily MA also approaching 'buy zone'
As you can see, its also withing the bounds of the channel.
Point 4 also in line with fib wave measurements
Point 5 is the selling point\target based on previous support in September
Please, take a second and support my idea by hitting the "LIKE".
All the best with making your decision.
*This post is only to be used for discussion and educational purposes only.
$ 4.75 looks like the entry range.
Using the fib pitchfork, we can see that we are on the fringes of a trend reversal. The buy zone is good as long as BTC does not do a trend reversal as well. I have added the scenario if BTC was to retrace to its 4500 to 4800 range, which is possible.
RSI at 41%, if it goes to 30 or less, we know it means the strength is towards the downside.
Momentum indicator is just below 0. indicating strength to the down side, as per RSI is heading.
Pitchfork shows we are at the 200% range indicating a trend reversal (towards the downside)
CCI also is bouncing off the -200 and is -123. Indicating strength is still on the downside.
I don't think anyone has got a clear vision as to what BTC will do in terms as how far back it will drop. We can only take it as it comes.
My gut feeling is that we are heading for a trend reversal (using the blue lines)
Note: Daily EMAs
50 EMA acting resistance
200 EMA acting support
100 EMA last strong support
A number of daily indicators are telling that strength in the market is in the downside with EOS
In addition, almost all daily EMAs are above the trend indicating the same message.
Using a number of tools, I have drawn the projected path with blue lines as major supports.
Eth, USDT, etc: 0x103922f5640E24E225B898C008BbAD6A7b7fAB13