Price is narrowing, the volatility subsides before the storm. The question of which way the blow would be would not have taken a decision in the medium term. There is a chance to pass at least 38-50% Fibo on the chart upwards. You also need to consider that we are in a falling trend and the opportunity to go down below 20 cents is very large. Indicators looks for bulls more.
Trade active
Trade active
I now expect BTC bottom at 250 week MA by April/May as final bottom 2850-3000. IOTA can bottom between 0.173-0.2. At the moment we are at horizontal resistance which goes back to December '18, January, February and March. But also historically it was support in November 2017 before the huge spike up happened. I doubt we going to break this resistance within next few days. I'm flat and want to see a correction first. Going to buy between 0.17 and 0.24. That's it I think. Lower lows not possible anymore.
IMO the chart is looking very weak in the weekly. Indicators such as StochRSI or RSI pleb tools have huge hidden bearish divergence. Perfect setup for drop below 0.20 and towards long term downtrend diagonal. My buy orders are set between 0.11-0.115. I strongly hope for that last epic shakeout. This bear market deserves such a final and strong reversal. If it falls that low it will be only a short time. Huge final drop of about -20/30% and the next day spike up with volume +20-30%. In that case we going to see the first real higher low in around August and from there a first attempt to higher high. Won't break above 0.4 this year. But that's ok. Patience is needed for huge gains.
MichaelShutterbug MichaelShutterbug
@MichaelShutterbug, How about the support from flash crash low December 22 2017 connected to the low August 14 2018 and this line extended to end of April has 0.135-0.14 as a target. There is also the symmetrical triangle we shaped which has the price target in exactly this range when we break down. Your Opinion for those observations? I doubt we go that lwo as I thought few days ago. Lower low: Yes. But not such a hard sell off. BTC to 2750-3000 range. End of April.
Agree with you IVAN
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