ABCD pattern and we are sitting on fibonacci 0.618. It have big chance to go back to the 360$(fibonacci 0.786). The 360$ also a ressist of the bearish trend.
Target : 355-360$
The interest of traders in the crypto currency, which does not have a developed infrastructure and obvious competitive advantages, is purely speculative. At the same time, it should be noted that the inflation of the Crypto-currency rate, which many bitcoin holders have not yet received, is not difficult for experienced market speculators. In this regard, we can...
We saw the Symmetrical Triangle Chart Pattern. But, these are 2 option may be going on.
Buy or sell, depend on what's next price action.
*only view : It is only my opinion about current market, isn't a recommended strategy
Swinging in the uptrend channel.
MACD crossed to downwards. Now SHORT to thrend line dip until MACD crosses upwards. Then LONG.
This is not a financial advice.
Trade at your own risk.
The support line is being approached and the symmetrical triangle is forming.
I will wait for an RSI confirmation - reaching the overbought level to sell short.
Preface - don't enter long now, at the price of posting, this is a long idea at ~320-296
Why I think this:
Short-term bearish indicators
-Bearish RSI divergence on shorter candle lengths (blue line on RSI graph)
-Bearish MACD divergence seen on longer candle lengths (4h for example)
-RSI showing a lower low for each lower low, showing a likely continuation...
$338 has mild support could be a good entry point. It's only bounced off the 0.618 level a couple times meaning mild testing. Watch btg closely, could reach ATHs ny the end of the week
If the trend continues then we can reach it. No drastic falls, the price is stable, and ready to go up. Indicators started to fall to the over sold area, and we have a simmilar pattern like on the 300$. You can see side move, but the trend can change fast. If you have btgs or if you are planning to buy some then be prepare to overbreak, and be careful.
