kaaiii

kaaiii

As we can seethe COINBASE:BTCEUR RSI is getting to extremely oversold and our price has hit a strong previous point of resistance and the trendline it's followed for the last two weeks.

kaaiii

If we can get some volume BTC should break out of it's 2 week correction and hopefully start a new bullish trend. We've seen a bit of sideways movement over the last 2 days indicating a big move could be about to happen. We're at the top edge of the falling wedge (which is a bullish pattern) and rsi is trending up. If we break above 7150- Target: 7790-7910...

kaaiii

It looks like the most likely scenario unless we can break back above 8100- soon is for COINBASE:BTCEUR to be taking a break from the bulls and heading down towards the 0.382 retracement level around 7700- level. We have both the 50 and 100 EMA above us and a strong region of resistance around 8050-

kaaiii Updated 

We're again coming up to a strong resistance zone, but also getting close the support trendline. Bullish Scenario: COINBASE:BTCEUR breaks through the green resistance zone over 7600. Bearish Scenario: COINBASE:BTCEUR falls below the red support zone around 7000. There will be a big move soon, the question is in what direction? To me it looks like the...

kaaiii

Looking like COINBASE:BTCEUR will come down to it's previous resistance around the 6000 Euro range before going up to the 6.5k - 7K range (Or higher if we get volume similar to what we've seen today).

kaaiii

Looking at the previous points of support & resistance and a hypothetical Elliott Wave count it looks like we're about to have a small break in our COINBASE:BTCEUR up-trend before continuing to more highs. This is also supported my the MACD and RSI both being on the high end on the 1h chart. But still being relatively low on the 4h and 1d charts.

kaaiii

First attempt at a basic Elliot Wave count based on previous points of support & resistance and fib extension. Entry at previous COINBASE:BTCEUR low of Feb 8th-9th