Bitcoin Update: Some kind of bullish divergence on 4h TF and so far it could mean we about to breakout from wedge which everybody is talking about these days.
Long-term bullish above 9400$ Long-term bearish under 7500$
Short-term resistance at 8800$ and 9200$ Short-term support at 8200$ and 8100$
I know the post is from the 17th, but as there is a newer for me to comment, I'll leave it right here !!
That is the view I am considering at the moment.
We are in a big triangle, if I lose the bottom of the $ 6000 and continue on the bearish channel, I can consider a drop to $ 4800 (M200 weekly), $ 3000 (Double Bottom), or $ 1200 retesting the historic top (ABC of $ 20,000). )
If you break the channel up, we may have good expectations of a bullish, get at least the top of the triangle and break after one, two or three tests on the daily or weekly candlestick (after the price is expressed by the triangle), if break to up this triangle I don't doubt we'll get the $ 20,000 soon
nvieira
⋅
Just correcting me that I can't edit:
"but as there is no newer for me to comment"
I meant there is no newer post for me to comment on Bitcoin =)
miaomiao18
⋅
miaomiao18
⋅
bit different on this idea of 1. trendline drawing. 2. S/R levels. 3.breakout confirmation
why it did not breakout:
1. price below ma 60(blue line) and ma 20(red line). both MAs are still trending down, it's on downtrend still
2. price did not break and close above ma 60
3. did not breakout green trendline with solid candle close above it.
4. did not break recent S/R
5. rsi did not breakout from 50 levels, stoch reached top and falling from there
miaomiao18
⋅
@miaomiao18, now bounceup potential price targets(red lines)
ArShevelev
⋅
@miaomiao18, agreed possible to go up from there, people just freaking out about the crash:)