Hi everyone
Link right now following Bitcoin to keep consolidating. BTC on Daily chart is more likely bearish so
we can expect for more downward pressure in days coming at least what it shows on the chart for now.
as you can see on the daily chart MACD line moves in bear side and if crosses down the signal line we
could make sure for another declining though we could have good support on 200EMA(blue line) around 8$.
the price still has a chance to move upward to touch my shadow downtrend channel that is facing strong
resistance below 50EMA( orange line) before another deep declining to my most interested area in blue box.
So....
right now I'm more bearish until the price can break resistance area around 10.7 to move upward. otherwise
I expect to see the price breaks 200 EMA below(on daily chart). we may have some more consolidation days
before a fresh move either side.
Enjoy the market
Link right now following Bitcoin to keep consolidating. BTC on Daily chart is more likely bearish so
we can expect for more downward pressure in days coming at least what it shows on the chart for now.
could make sure for another declining though we could have good support on 200EMA(blue line) around 8$.
the price still has a chance to move upward to touch my shadow downtrend channel that is facing strong
resistance below 50EMA( orange line) before another deep declining to my most interested area in blue box.
So....
right now I'm more bearish until the price can break resistance area around 10.7 to move upward. otherwise
I expect to see the price breaks 200 EMA below(on daily chart). we may have some more consolidation days
before a fresh move either side.
Enjoy the market
Comment:
seems the price is forming bullish flag pattern I expect the price touch the bottom line of my flag channel around 8.5 before jumping up to 10.7 target. though it has a chance the price moves up to 10.7 before last declining if closes up on my top line of the flag channel
" Enjoy it"
Trade active:
Trade active:
Enjoy the market (:
Trade active:
Comment:
if the H&S pattern completes the price will drop more. right now link shows more bearish than bullish to me. but you have to consider the trend may change anytime
