ENTRY : GREEN LINE (6550)
STOP: 3 % BELOW ENTRY
RESISTANCE: RED LINE
CONFIRMATION: 1D CLOSE ABOVE DOTTED LINE
TARGET: BLUE BOX
24H VOLATILY REACHING LOWS, BIG MOVE INCOMING (EITHER SIDE)
SHORT TO LONG RATIO IS 1.2532 AT YEARLY LOW RANGE (TOO MANY SHORTS)
LEANING BULLISH BECAUSE THIS MEANS A BIG SHORT SQUEEZE IS LIKELY
This is a simple chart based on yearly fib levels to find our targets for the next bull run (if there's one).
Things that lead me to believe bottom is in:
200 Daily MA finally got hit after more than 1 month of correction
Mayer Multiple (not shown in chart) is at 1.113 indicating BTC is undervalued.
Stoch RSI at 0 indicating BTC is oversold.
PF HAS BEEN RESPECTED, SUPPORT @ 13K HAS BEEN TESTED MANY TIMES, PRICE IS ABOVE ICHI CLOUD AND KIJUN; MAKING HIGHER LOWS SINCE THE DAILY FRACTAL WAS HIT 3 WEEKS AGO. IF/WHEN THE CORRECTION IS OVER, TARGETS FOR THE NEXT RUN ARE THE FIB LEVELS ON THE CHART.
IF THE CORRECTION CONTINUES, PRICE MIGHT RETRACE TO THE BOTTOM OF THE CLOUD, IT COULD GO EVEN LOWER TO THE...
2017 was great for bitcoin, personally, i had the opportunity to witness everything that happened around the environment throughout this year and it was amazing, couldn't be more thankful.
Even though we had a massive bull run this year, I feel the newcomers are here because of the price, not because they actually understand what they are buying, imho price is...
POSSIBLE BULL RALLY INCOMING. WAITNG FOR CONFIRMATION.
PRICE BROKE THROUGH THE DOWNTREND LINE, A DAILY CLOSE ABOVE 3900 IS BULLISH.
IF PRICE BREAKS THROUGH THE 50 MA AROUND ~4050
DAILY CHART SHOWS A POSSIBLE LONG OPPORTUNITY ON BTC.
-PITCHFAN SHOWS THE SUPPORT/RESISTANCE LEVELS (GRAY LINES)
-SUPPORT HAS BEEN TESTED MULTIPLE TIMES. (BLUE CIRCLES)
-TRIANGLE BROKE UP, GIVING A BUY SIGNAL ON THE SHORT TERM (ORANGE LINES)
-MACD ROUNDING UP, WAIT FOR THE TO CROSSOVER TO GET A SOLID BUY SIGNAL.
-RSI IN NEUTRAL ZONE.
BEARISH DIVERGENCES AND A POSSIBLE H&S IN THE DAILY CHART.
PRICE IS CURRENTLY TESTING RESISTANCE AT .786 FIB.
50 PERIOD MA SHOWING SUPPORT AT .618 FIB.
IF/WHEN THE PRICE RETRACES IT WILL MOST LIKELY TEST THE TRENDLINE .
FIB LEVELS CAN BE USED AS TAKE PROFIT TARGETS IF SHORT.
NOTE: IN MY OPINION, I DON'T THINK THIS WILL HOLD. BIG EXCHANGES ARE SUSPENDING...
-25 PERIOD RSI HIDDEN BULL DIVERGENCE (PRICE HL , RSI LH)
-MACD HIDDEN BULL DIVERGENCE (PRICE HL , MACD LH)
-PRICE IS ABOVE THE 50 PERIOD MA (ORANGE LINE)
IF THERES A MACD CROSSOVER AND THE PENNANT COMPLETES THEN MOON
ALSO, 4/20 SOON