DonniePiii

DonniePiii

Looking at the 4 hour you see that there were at least 5 times XBT attempted to break the down trend line followed by rejections each time. If it fails one more time, maybe not even one more time, we should see one last correction before the real trend reversal happens. The way bitcoin moves is always tricky, because the market makers love to make TA traders pull...

DonniePiii

This correction was a long time coming. The first yellow trend line is the bull trend that picked up in January 2016. I’m thinking we will test that trend line followed by either a bounce or a continued down turn towards the longer term trend line established around 2009. Simply put the absolute worst case scenario would be maybe around 18k but for this scenario...

DonniePiii

Now I’m not saying we aren’t going to go higher due to the new tax laws as well as the lessened regulations for businesses. However, the current RSI is at an all time high. Now that it’s at an all time high, it’s important to understand that this means buying is significantly taking place more than selling is, driving price way up throughout the whole market. Once...