hubavka

We are getting out of time and BTC will either break the downtrend from the top or break down to do some kind of retest of the lows or even make new lows. Get ready to place your medium term trades.

We have a positive divergence and should go up at least to the falling trend line. If we break the trend line will be bullish. Otherwise the recent drop should accelerate with a break of 3500. I give it 70% chance bullish for now.

We have a positive divergence on the 15 min chart. We could bounce about $100

This is just a short term trade against the over trend. Be careful and use tight stop orders.

What do you think about this setup? let me know in the comments.

There is always a reversal to the mean. It doesn't matter how much time an asset spend in an overbought/oversold condition the price will always catch up with the mean average. In this case I am expecting price to meet the 20 MA. Of course if you are too early trying to trade this you will have a very hard time.

We have two possible paths from the current level

I think we are going to find a bottom soon between 4000 and 4200. The downtrend channel is still intact for now.

Buy ETC on the break of the downtrend line for the continuation of the uptrend. Target 0.0055-0.0065

Buy the break of the falling wedge for a short term long trade.

Some divergances on a few time frames as well as overbought conditions will result in a few days correction.

If current downward trendline is broken we should see a retracement back to 1.1950-1.1960 Stop at 1.1820

Buy on break of the trend line and when MACD cross over. Good luck and preserve your capital by utilizing stop orders. In this case for XBTU17 a good stop will be under 4250.

We should break down from this triangle and go down another 300 points from here. Good luck and always use stop orders!

At some point we are going to have a correction of the current impulsive rise. I think the Segwit lock in event might be a good time for a reversal. It's not clear how much we will correct of course, but we have a previous resistance now turned support at $2880. The timing is the tricky part and it could take a very short time or it could stretch over days. Good ...

There is downward channel and we are either going to continue a little bit more inside of it or we are going to break up. There are still 2 more days of "normal" trading before all hell breaks lose :-) Keep vigilant and do not take unnecessary risks.

There is a good chance that we have established a short term bottom in the low 2400s and will test the broken support at 2600-2620. If we go above that level we will see 2800 again.

We now have a small MACD and RSI negative divergences. I have indicated the target area I am expecting after the trend lines are broken.