Refer to 4 hourly chart, bullish divergence occurred - it's a sign of reversal pattern.
Strong support in the range from USD 4,000 to USD 4,300, as USD 4,195 = EMA 200 weeks, and USD 4,300 = 0.786 Fibonacci Retracement level.
In addition, the said support range is converging to the " all time uptrend line - refer to Steve, Crypto Crew University ".
Strong Resistances in the Area (USD 6,750 - USD 6,850):
- EMA 50 days.
- MA 500 days.
- Major down trend line (white line).
- USD 6,250.
- USD 6,100 (Neckline - purple line).
Potential TWO bearish patterns formation:
- Rising Wedge.
- Head & Shoulders pattern.
Confirmation of the release of ReddID in the coming September 2018 will be given a huge attraction to all users of Facebook, Youtube, etc. around the world. This is the time where we shall accumulate more Reddcoin. This project will not disappoint us as long term holders.
BTC/USD just retraced to 0.786 Fib. level (~ $ 6,350).
Strong Support from MA 500 days (~ $ 6,550).
RSI reaching oversold territory, and Stoch RSI shown bear momentum very weak.
If the Elliot Wave count correct. Primary Wave 2 shall be ended, and bounce back will expected very soon.
This count only valid if BTC/USD stay above $ 6,350.
Strong Support converging in between MA 50 days and Fibonacci Level 0.618 ~ $ 6,840.
RSI shown support on 40 level.
Stoch RSI shown Bearish momentum very exhausted.
Target BTC/USD for short term remains Bullish, and expects final wave (Wave 5) of primary Wave 1 will be hitting ~ $ 8,900 by end of August 2018.
Resistance: Converging in between 0.618 Fib. level with MA 200 days. (~ $8,400).
Support: Converging in between 0.5 Fib. level with EMA 200 days. (~ $7,880).
Breaking either up or down will expect a significant movement for BTC/USD.
XZC 1Day Chart RSI shown all time OVERSOLD in last month and starting to move higher now.
We will likely to see double bottom for XZC/BTC 1Day Chart, and it must break EMA 20 and upwards decisively to confirm the double bottom pattern.
Short Term target (within a month, probably within a week) = 300000 Satoshi.
This could be a Buy Signal.
If the BTC price drop below MA 500 (approximately 6,020 usd/btc) for 1 day chart, BTC will be going into Despair stage, this is the stage whereby we should accumulate BTC (ladder buy) as much as we can. Great opportunity!!!