As it was expected 1615-1630 zone supported by buyers and they managed to push the price upper 1715 and even 1740.
I am sure, that 1D close upper 1740 is a great signal for a long position (i expect chart to retest smth like 1705-1715 before 1/4H close upper 1740 again)
So big timeframe (TF) is showing long signals, so my goal is to find long at 1715-1740 zone and...
I've learned charts of BTCUSD (2017-2019) and DJI (1929-1933) and found out that there is a big chance to see long term downtrend after first bounce from the bottom.
Situation is quite equal to BTCUSD Dec 2017 - Jan 2018, when price bounced from 11.400 (~-40% from top 19.400) to 17.000 (+50% from bottom 11.400). I remember that time - many people expected new...
It seems to me , that the selling pressure in this share is over.
I think there are two possibilities of moving up:
1. Pure move, from this position to 41-42$
2. Testing buyers via pinbar (31.80-32.30$) (and also taking volume in position with the help of activating stoplosses of weak traders)
Anyway - i suppose, that new price range is 31.80$-41.44$ for...
I think BTC will try yo test the global sell zone 4000-4400$, where all the latecomers (who bought around 4500) will try to sell their BTC with minimal loses.
Also I am waiting for a great correction to 2000$ (i think we will heard new bad news about some problems inside the BTC community on the eve of Segwit2).