6500 provided the expected small support. More support just above 6000, which should provide a bounce off the bottom of the triangle. If the top of the triangle provides enough resistance BTC will drop to 5400 for a larger bounce. This is all somewhat subjective and many clarifications and checks need to be seen before trading. It could go either way and it...
TA is all well and good. Its fun and informative. There is however a lot of ambiguity, so I have been working on building a simple strategy. I have tested it over the period since the downturn and tripled the investment. However its all been theoretical and I am now putting it into practice. I will keep the complex TA going, but also keep it separate from this...
The 4hr RSI will double bounce. That's as close to a definite as I care to go. 1Day RSI should be oversold soon, and will stay there for a day or so. 1DStochRSI not quite reached the bottom and may sit there for a while Conclusion: still further to go. Also, and I've been rabbiting on about this for ages..... I still believe we will see a sizeable $ support...
We have a RSI 1hr divergence and a closing triangle. A drop is about to occur and the next leg down about to begin. Target around 7100 - 7300. Lets see how this plays out. Caveat: I am not a professional trader or adviser. Do your own research before making any trade. Never trade more than you can afford to loose.
just follow up observations. More detail here:
So far this pullback has gone as expected, although moving faster than I thought on a number of occasions (after initially predicting it far too soon!). I still believe we will see a sizeable $ support bounce at $5400. However much has gone on since my original prediction and some of the power in that bounce could have been taken out. Coloured boxes follow the...
drops are getting larger, as are the bearish volumes. There is a lot of dumping going on - often an indication of forthcoming pumping. Some good resistance approaching on price (~8300). 4hr RSI support and oversold. Daily RSI still has a possibility of oversold double bounce Daily StochRSI has some sapce left to go down Daily MACD has just completed a bearish...
In 1hr: As expected RSI found support whilst the price continued down. THe price has found support. Will the RSI give support twice or will it break through next time? Will the price support hold? RSI and MACD trends are upward, but maybe too fast and resistance to be encountered In 4hr: RSI support not yet reached and not yet oversold (<30%). My thoughts on...
RSI divergence has been coming for a while now. BTC and suitable dropped. How far will it go? RSI Support may have been reached, but last retrace BTC dropped further after RSI support found. I am expecting some horizontal movement before a further drop reaching 50% retrace and long term support. Caveat : I am not a professional trader or adviser. Do your...
RSI divergence has been coming for a while now. BTC and suitable dropped. How far will it go? Either a bounce off the .786 line (11260) or drop to the 0.618 (10839). I don;t see enough force at the moment to take it down to the 50% (10543) retrace. Not prepared at this stage to commit to a re-entry position (I've been wrong too many times of late!)
There is a lot going on in the next few weeks. Quite a few resistance lines on the way down (not all detailed here). Where I perhaps differ from others is my thoughts on the next bounce. The last bounce occurred around $6k. This was higher than the resistance setup from 12th November 2017. However, looking at the BTC:EUR charts, the bounce was bang on the...
1st target reached. Second target set (11300) and stop adjusted (10500). Highly tentative Fibonacci proposed. Overnight profits taken (20% of investment) and reinvested at pull back (10700) The 56 and 61% RSI S&Rs still not broached Overall Profit target: ~10% Caveat : I am not a professional trader or adviser. Do your own research before making any trade....
Support around 8250 may provide a small bounce (grey boxes) Main movement is probably back down to bottom and a little further. Previous bounce came at €uro support line (~6000), and there will be another small bounce here. However, the main bounce will come from the $ dollar support line at 5400. Providing an opportunity for re-entry. Other Markers The...
Support target reached. Re-entry made, trade is on. Target 10810: small resistance bouncing along the pitch fan line before heading to next target. If RSI can break through the 56 and 61% RSI S&Rs, the bulls are back in business (for while anyway). Caveat : I am not a professional trader or adviser. Do your own research before making any trade. Never trade...
Fast approaching a fair amount of support with potential zone for entry, taking profit around 11k. Stop loss below the 200MA around 9850. Long term, I still think the resistance is too strong for the bulls and a long term bouncy ride down is in the offing, but I am open to offers. Caveat: I am not a professional trader or adviser. Do your own research before...
The rising RSI trend line reached tipping point as expected (purple line), coinciding nicely with long term resistance. We appear to have entered the next stage of pull back. There are a few supports along the way, but I would not be surprised if we hit previous low sub 6k. There is a long way to go yet though and much can happen en route. Bear conformation...
bit concerned about this divergence. Ready for a big drop
4hr overbought has peaked 4hr MACD is about to cross over The bubble is over (note: I have said that before!). Immediate future looks like a couple of resistance levels, coinciding with fibonacci and a general trend that's emerging. Channel may be drawn too early and could skew across some more. Either way, next potential buy ins for small gains...