BTC - investors fight at support level 10.000$ - which is important for the short term future.
If the bears win the price could drop at least on 9.140$ (fib retracement 1 new / 23.6% old) or lower to the next swing trade lines (orange). In this case BTC would have broken the long term asending trend channel to the bottom.
In the case the bulls win the fight BTC continues to stay in trend channel.
RSI at 35 - not far away from oversold (<20)
MACD negative but give signal for turning
Volume below medium but stable
Price below EMA 20
I would give no bet that the bears win this time.
If the bears win the price could drop at least on 9.140$ (fib retracement 1 new / 23.6% old) or lower to the next swing trade lines (orange). In this case BTC would have broken the long term asending trend channel to the bottom.
In the case the bulls win the fight BTC continues to stay in trend channel.
RSI at 35 - not far away from oversold (<20)
MACD negative but give signal for turning
Volume below medium but stable
Price below EMA 20
I would give no bet that the bears win this time.
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BTC continues fall. The fight at 10.000$ was lost, as the next at fib 23.6% and swing trend line (orange) also. We´ll see if the actual swing trend line will be strong enough to halt the drop. Indicators are weak with RSI not oversold - so there is space for lower prices.
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BTC broke out of long anscending trend channel! The fall stopped at swing trend line (7.450$). Next support at 6.086$ (swing trend) or at 5.794$ (fib retracement 0).
To get a more positive image, BTC should re-enter the trend channel within short time.
To get a more positive image, BTC should re-enter the trend channel within short time.
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Sell-off? I´m getting in with a little portion of fiat money. Even if it falls deeper these are long term buy opportunities - in my view.
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BTC rebounded on swing trend line and got back into the dexcending trend channel. It also regained the long ascending trend line (dashed).
But to show more strength and indicate new buy signals it should
a) stay above the long term trend
b) cross the next fib retracement an
c) leave the trend channel to the top
But to show more strength and indicate new buy signals it should
a) stay above the long term trend
b) cross the next fib retracement an
c) leave the trend channel to the top