Since Mike Hearn statement, China "recovering" and manipulation my last chart was confirmed... It is very very soon to know which can happened but I bet for a H&S movement. beginning to a 300 movement to the support zone to finish in 240's- 260's zone, acomplishing with DanV's elliot's wave previsions.
Hi to everyone!
I would like to share to you an excellent method for trading BTCUSD on neutral and long positions.
I use a MA30 (moving average of 30 periods) + Elder's Bull and Bear Power indicators on H4 or D.
Buy process: When MA30 changes trend from downtrend to uptrend + candlestick is over the MA30 + both indicators are above 0 level = BUY
Sell process / ...
A last move down could be inminent but it should test the previous support / new resistance (R1). It is much oversold right now... anyway LTC is being dying very quickly but whales should profit in short time.
While last uptrend in the last days broke downtrend triangle, we are all expecting the new movement direction.
IMO two main possibilities (checking daily chart) are:
A) Uptrend to 740-750 area if 540 support holds. RSI and CMF trust in it. If so, we would be in a correction of the last uptrend and a gap would be present in the next days (maybe 1-2). On H4, MA200 ...
IMO we are going to be sideways in the following days before retesting lows.
H4 shows that we are still in the downtrend triangle and bulls are exhausted. This representation in candles and indicators are the same as we had previusly (Mother, Infant pattern... so Baby is to come).
After this retesting we can go to up (700) or low (200s) so everything can happens ...
I don't believe too much in moving average crossing but, 'cos we are in a down trend line, I think we are finishing the last correction to search for a new low.
Target? I think 350 - 370 are will be the next support. If I happens, I think that the real low that can change the trend could be lower to 300 at 15st April.