Bitcoin is showing signs of strength.
RSI is showing divergence. Also it has jumped above 30.
MACD is showing tripple divergence which is from technical analysis point a very strong bullish signal.
ADL line is increasing and reaching new peaks despite falling price indicating the bottom or short term reversal could be near.
$5800 is a very strong support...
So guys, BITFINEX:BTCUSD is collapsing because of recent CFTC Probe and low volume Coinrail Exchange Hack. It's been discussed that the CFTC Probe is good for Bitcoin if it is going to be accepted as a mainstream currency but in short term there is a lot of black money involved in Bitcoin trading. so ofcourse we are going to see short term price declining....
BITFINEX:EOSUSD is showing the signs of upward movement. RSI has moved back above 30. Advance/Decline line is making higher highs despite the candlestick chart making lower lows. So it is a buy signal.
Entry point: 13.5
Stop loss: 11.5
Profit Target 1: 20
Profit Target 2: 26
For a conservative entry, wait for the MACD to move above 0.