The last turn up for bulls, or 6000 (PART 2)

27 thg 5, 2018

At current days TA gives good signals for the movement of bitcoin - that's why yesterday (based on the daily StochRSI and Williams) in my conclusion I pointed to a more likely scenario: bitcoin can jump up to 7550-7600 (M/BB) and then continue falling on 6900 (pitch fan at 6000). So it happened - bitcoin tightly tested M/BB and at the same time resistance line weekly SMA50/EMA50.

Now we are seeing that the bears have again dropped bitcoin to L/BB, and what is very important is that we are testing down the daily SMA365 and the pitch fan at 6400. Therefore, lets look through TI to understand if the bears have the chances of success to drop it lower to the point 6900 (pitch fan at 6000), which I repeatedly pointed out in my recent analyzes.

Basic 5H TI continue to be in the "sell" zone, with the exception of StochRSI - so you can expect the pressure down to 7100-7150.
Daily TI also continue to be in the "sell" zone, and at the same time (as usual) StochRSI and Williams are in the "oversold" zone - so you could expect a jump to 7450-7500 (no higher than M/BB) – but this is unlikely to happen. Because on the other hand (if we compare the dynamics of the daily TI), the pressure is going downward, which is why there is more probability that there will be a movement down to 6900: RSI=32, Stoch=20, MACD=-300, DMI=46, etc.

Given the combination of TA factors, I assume that the most likely scenario is the following: dropdown to 6900 (pitch fan at 6000).

Again, because of easy manipulations at the weekend, bitcoin can create the illusion of a breakthrough (M/BB and weekly SMA50/EMA50) and many will open long positions, while bitcoin is unlikely to rise above 7750-7850 (daily SMA/EMA10) . I know many people who yesterday on a green candle (a sharp increase from 7400 to 7600) opened the long position long – because they thought it was a breakthrough of triangles/wedges (small and large), but in fact it was a manipulation, which I wrote about in my analysis.

Take care of your BTC, USD and health!

28 thg 5, 2018

Ghi chú

Bitcoin jumped to the point 7450 (M/BB projection), although in the last analysis I assessed such a jump to be unlikely (based on daily TI StochRSI and Williams). Nevertheless, the bears immediately dragged bitcoin down to the calculated 7150 (based on the L/BB projection and the 5H TI StochRSI). More important fact about which I also mentioned: bears broke down daily SMA365 and pitch fan from 6400 - so now TA indicates the movement down to the point 6800-6900 (pitch fan from 6000), regarding which I repeatedly draw your attention.

5H TI continue to be in the "sell" zone, with the exception of StochRSI and Williams - so you can expect a slight increase to 7300-7350, and then pressure down to the mark of 7000-7050.
Daily TI continue to be in the "sell" zone, and 3 TI (Stoch, StochRSI, Williams) are in the "oversold" zone - so you can expect a jump to 7350-7400 (no higher than M/BB). Nevertheless, the pressure downwards is crucial (RSI=31, MACD=-340, DMI=46) - so the next point is 6800-6900 (pitch fan from 6000).

Given the combination of TA factors, I estimate the following: to stabilize TI (which are in the "oversold" field), we can have a number of mentioned jumps, but the result should be a point 6800-6900 (pitch fan from 6000).
If bulls do not hold this position, or if the bounce up is not “impressive" - then bitcoin can drop very low to 5500 (weekly EMA100).

Take care of your BTC, USD and health!

28 thg 5, 2018

Ghi chú

29 thg 5, 2018

Ghi chú

In the last analysis (based on 5H TI StochRSI and Williams), I estimated that bitcoin would reach 7300-7350, after which the pressure would continue to drop to the level of 7000-7050. Thus, for today, we saw that the bitcoin jumped to M/BB projection at 7300 and then dropped down to 7050. It can also be said that the bears finally broke down the daily SMA365 and pitch fan at 6400, confirmed their positions at current levels and could develop the last attack to 6800-6900. Let's try to calculate from the TA's point of view - how deep bears can drag bitcoin.

Today, 5H TI continue to be in the "sell" zone, with the exception of StochRSI and Williams - so we can expect a slight increase to M/BB projection at 7250-7300, and then pressure down to 7000-7050.
Daily TI also continue to be in the "sell" zone, and 3 TI (Stoch, StochRSI, Williams) are in the "oversold" field - so you can expect a jump to 7400 (even higher than M/BB) for testing up daily SMA365 and the pitch fan at 6400. However, the pressure down is even more significant (RSI=31, MACD=-380, DMI=50) - so (after possible jumps), the next point lies in the field 6800-6900 (pitch fan from 6000).

Given the combination of TA factors, I estimate the following: to stabilize the TI (which are in the "oversold" field), we can have a number of mentioned jumps, but the result should be a point 6800-6900 (pitch fan from 6000).
If the bulls do not hold this position, or the rebound is not “reliable” - then bitcoin can fall to 6400, and in the worst case to 5500 (weekly EMA100).

Take care of your BTC, USD and health!

29 thg 5, 2018

Ghi chú

29 thg 5, 2018

Ghi chú

Bitcoin made expected jump to projected 7400 (higher than M/BB) and is now testing up daily SMA365 and pitch fan at 6400. In the last analysis I wrote that after reaching this point I assume a drop down to 6800-6900. I hope that I am mistaken and bitcoin will rocket up.