Yesterday Nov 3:
RSI oversold aligned with reversal zone, elliot wave correction wave 4 completion & bullish bat target gave us the signal to enter in correction zone.
- Fibonacci Extension level 1.618 aligns w/ Elliot wave 5 next leg up target $2 USD
- wait for local high to be broken for entry to ride to $2 USD
- watch out for RSI to dip down
Let's watch for a replay of events.
Do not enter until bullish / reversal trend confirmation.
light red lne is MEDIAN resistance zone to get an idea. this is NOT top trend line.
bottom orange line is MEDIAN support zone to get an idea. This is NOT Bottom trend line / hard support zone.
- Inverse Head & Shoulders forming
- Looks to be in a channel, currently at .2, Strong support at .15 and resistance at .3
- .15 - .185 looks like a great buy zone
- RSI + MACD have room for upward movement
- Will wait and update trade depending on movement towards support or H&S completion.
The chart says it all, and most of the details and notes are on the graph.
This analysis is purely based on technicals, although I believe these numbers to be realistic due to:
- bitcoin just getting started
- Small amt of issued curency (21M) + increased demand (2017 is the year it started coming to public, many blockchain projects by corporations, ICO's,...