BTC 5th Wave? - 7/29/18

29 thg 7, 2018

Hidden bullish divergence (magenta dashed line) on the 4hr chart developing simultaneously in the RSI, MACD and Bollinger oscillator. First rally to first bull flag (first yellow pole to green channel) followed by a second rally that matched the height of the first (second yellow pole leading to green channel) and leading to another bull flag. I think the price action dropped out of the channel the way it did because of the ETF news (FUD) that was realeased. I did not take long for the price to leap to the top of the bull flag channel. I this analysis lends credit to a bullish continuation to, potentially, 9k+. Price is currently sitting (bouncing?) on the 18MA. Also note that the 9MA has just crossed above the 18MA. I hope this contributes something of value to your perspective. I gladly welcome your comments below! :D