Heard people saying BTC has the potential to hit 1 million so I decided to take a look at the monthly chart. It seems like there is a rising wedge pattern forming out and inside this wedge BTC has the room to go to 1 million. But as we know that the rising wedge is a bearish pattern the price will probably go down on some point.
This is just an IDEA. Time will...
Just playing with some lines on daily chart and I see some resistances around 10k. Very curious how this will play out in the next days. BTC under 10k or above 10k?
R1: a not so strong resistance from the past (blue line)
R2: kind of an upward trend resistance (orange line)
R3: EMA 150 resistance?
RSI looks like it will go above 50.. it has room to grow.
What I'm looking at:
Just bought some ADA at 3100. Set first target to 4000 back in the cradle zone.
Actually I want it to go to 5100! (my real target)
If it's going lower than this support at 3100 I'll update my position ( I'll accumulate some more ADA on a lower price)
Just fun trading. Not advice!
On a quick look we can see that the raise of BTC was so high out of BB and way overbought on RSI that it was expected to go down a lot. On monthly chart, BTC just hit the 0.618 fibb level but there is no sign of great support here. A stronger support seems at 0.786 fibb level at around 4300. If BTC drops to that level we might see it raising again in March.
BTC did a dead cat bounce on ema150 (same level with a little support at 9910 and same level with level 0.786fibb) then did another dead cat bounce on ema 200. Looks like btc is going down to around 7950 on level 1fibb where is a nice support. On RSI it looks like it's going oversold soon... so will btc make another dead cat bounce and beat the support at 7950 to...