Once again Bitcoin is approaching a critical level based on our previous analysis.
The Golden ration number from our previous call at $6815 is within reach. Now we stated numerous times it is a very key level on the trend bitcoin will be taking now.
If this level holds which is our assumption, we will be heading up to test previous highs and also new resistance ...
Now I'm no expert EW tactician but this is what I see. Using Fib Retracements, it appears that we may be on a larger time frame's C wave down. It will take a few weeks to months to play out in my opinion.
We also see bearish divergences in the RSI. Last time this happened was months ago.
2-3 week target is 23,500
located in wedge / there is some hidden bullish div on sotch and cci-rsi but not too much strong.
stop loss below long support line (5-10% loss).
btc is show some movement /if btc can move slightly higher we can upward move in cardano.
fundamental:
august
15 Special Announcement
16 meetup
21 meetup
31 cardano v 1.3
have a good trade/ give a ...
To me we are just up from anger stage on Wall street cheat sheet - let's see what's coming. Everyone obviously hopes here for massive gains - especially alts - I do admit though - I was impressed with Ontology and Wanchain, but Cardano and Iota didn't explode as I was expecting. We learn every day - from here on I imagine we will see shorts piling up... time will ...
Chart explains what i'm currently thinking. Will update the up scenario in a few minutes. This is just chart art, not financial advice. Don't take it as advice at all. Its just a drawing and a possible scenario. Have fun, good luck.
Looking back into the history and the pattern similarities I think the price may pop up to the trend line as it did before and then bounce down(see blue boxes and green targets). That's a great opportunity to get in a nice short pos (.0006240).
Afterwards, this time I think there will be a consolidation period, rather than the radical pump up. That's the two ...
According to the 12/Hour chart: The RSI is around 30, which is pretty low. And Bitcoin is currently on the 13th candle; which could be could news for Bulls since Bitcoin is also at 2 key support points (the red lines).
If Bitcoin can't hold the support around $6870, the next support line will be around $5540.
The 6/Hour ...
Going Long ETHUSD -2.44% -2.82% with a Demark Setup Buy Perfection signaled on the 12 hour chart and a move above the high of the 9 bar at 415.89
-Long at 415.89 or better (got filled Saturday morning at 405.96)
-Stop with a *12 hour bar close* below 399.13 (the 12 hour candle must close below this level to signal liquidation, merely going below does not stop ...
As I suspected in last update, this first run above then down to the 150 day moving average as support did not hold. It was an important battle move for the bulls, but more time is necessary. Today we logically slipped down a bit, to find the 50 day moving average in the blink of an eye and of course it aligns with logical horizontal support.
So again... will it ...
Price of Bitcoin has continued to consolidate and has been showing more bearish signs than bullish on 1H timeframe.
Bearish confirmations include a breakdown from descending triangle, showing...
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