MACD has Golden Cross and appears to be conforming to the chart. Pin rejection candle for January with a pivot swing to the upside. Monthly appears to be long all the way up to the red resistance area by the 3rd or 4th quarter of this year.
Greetings, it has been a while since I have done an analysis for BTC! Looking forward to giving more in the very near future. From the weekly chart it appears we are in the beginning stages of what may very well be another bull market for bitcoin. If you look at the MACD, we have a very nice bullish cross that happened about a month ago and has since been widening...
RSI and Stochastic are oversold and are ready for a trend upwards. MACD may get a little more downside but overall we are in a buy zone. I expect a pullback at least around the 50 % FIB level around 1.130 to 1.132 and then re-analyze. Overall we should be long on this current swing until Brexit on April 12th..
Double bottom on daily with a bounce pin from support as labeled with the second green arrow.. There is a current candle close above the 200 MA and the 50 but a rejection from the 20 day high and 20 day low average line in orange. From looking at the lower time frames it appears this would be a very brief set back in an otherwise bull trend to the upside on this...
Massive resistance on 38.2% fib level which means there is a strong possibility for a downtrend towards the 1.118 (June 17’) support level. At the very least 1.11578. Also lower highs present on the 1 hour and the 4 hour charts. Short !
Down (short) to 1.130-1.127 area then back up (long) 1.139-1.141 level. We are in an uptrend channel towards 1.145-1.147 levels. Longer term the overall trend is bearish and within a descending triangle.
Death cross, 50 MA acting as resistance, expecting bear rally downward to 105 range. Macd losing momentum and showing bearish convergence while underneath the zero line. Stochastic is on top of the range and showing plenty of room for a drop.
Greetings, appears we have enough points on the chart to qualify the current trend for the short term as downtrend within a descending triangle highlighted in Pink.
On the H4 chart we also have a death cross which could signal further down turn onto the 1.128 and below mark. I wouldn’t be surprised if we slip past the 1.126 and to the 1.121 level.
I expect a...