We can consider a new cycle starting up!
Starting mid-September 2017, when the BTC flirted with the overbought zone and having its peak in mid-December of the same year, we closed at the beginning of this month the mega correction reaching the level 61.8 of Fibonacci.
I observe the formation of a wave 2 of a new high cycle forming, being able to reach the zone of...
We arrived at an important level of correction (BTC played at Fibo 38.2 level, ie retracted 61.8), theoretically would be a potentially reversal zone.
The pair has respected the MA20 and is currently below it, which puts us still in a downtrend.
The RSI is below 50 and the low trading volume indicates a premanence in this zone or a little lower.
We can consider...
I could say: we have reached the bottom! The correction reached 61.8 Fibo level. But the truth is that we are all speculating, dissipading knowledge on TA, but who commands everything here is the FUD, the news ...
I have observed, the price action has not respected the patterns in the vast majority of cases.
My humble opinion!
Follow your instincts!
Again, MACD and RSI showing divergence in relation to price action.
We need to wait for confirmation. The price is now testing hard support. Breaking this support, we also roped the previous top, characterizing a possible change of direction. Could I say... a Pit Stop.
Possibility of a correction of the BTC. We observed the formation of two patterns of candlesticks: Evening Star accompanied by a Bearshi Engulfing in the H1.
We must await the closing of this Candle to confirm. However, observing the M15 confirmed a double top, which already gives us an indication of a possible correction.
Follow yor instincts!
We have a clear divergence:
The price showing higher top and MACD doing top and bottom lowest.
The BTC is in a moment of consolidation.
I do not know if it will respect the fall scenario, especially after inserting the BTC in the futures market.
I prefer to follow price action.
It's possible that re-test the background of the rectangle, but the expectation of the...
It is possible, in confirming the rupture of this support zone, that we return to the previous bottom (zone of the 3800). We will then have the closing of the fifth wave (PROBABLY) during Announcing Swell by Ripple. That would give us a great entry point in a long term.
Follow your instincts!
The market is very uncertain in this period. News, SegWit expectations, many speculations ...
The story repeats itself! A new Gartley bullish standard, a new cross of the EMA 100, returning immediately above average.
We're finding a resistance on Fibo 38.2 and we're probably on Fibo 23.6, too.
Anyway, our expectations are that, once again, a bullish period is forming.