BTC Idea: A consideration

88 lượt xem
88 1
I think BTC has reached its top for this run and I would like to share a few of the indications and a consideration for possible market moves. First looking at the 4hr chart we can see potential resistance from the top trend line . RSI is oversold and MACD has the potential for a crossover. Most telling in my opinion though is the strength of this recent run up over $6000. Both volume and ADX are significantly lower this time at the $6000 break compared to when we broke $5000. This appears to be the case with the MACD as well and if confirmed it is a sign of bearish divergence. With the DMI on the verge of a potential crossover as well, things do not look good for the bulls in this chart.

Zooming out to the 1D chart we get a better picture of the trend line . RSI is still showing oversold and there is a clear loss of volume .

For all you Fibonacci and fractal fans, here are a couple charts to consider as well:

I hesitate to call a short here though because of that one consideration I mentioned up top: Bitcoin Gold is set to happen in less than 4 days. In case you are not aware (and I admit I am not very knowledgeable on the situation myself), Bitcoin Gold is a potential hard fork that would create a second token much in the same way Bitcoin Cash did. In order to cash in on this new currency being created, I imagine many people will buy up BTC right before the fork.

All in all this makes for a tricky situation. In my previous post I mentioned that if we broke $5800 a good take profit mark would be at $6500 or $7000. I retract those numbers and think $6200 or $6100 is now much more appropriate. If the market corrects, I suspect we will see a quick, hard buyback as people stock up for Bitcoin Gold .
Thankyou for sharing. Very interesting idea.
Phản hồi
VI Tiếng Việt
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Trang chủ Bộ lọc cổ phiếu Bộ lọc Forex Bộ lọc Tiền điện tử Lịch kinh tế Cách thức hoạt động Tính năng Biểu đồ Quy tắc Áp dụng Người điều hành Giải pháp cho Website & Nhà môi giới Widget Thư viện Biểu đồ Chứng khoán Yêu cầu tính năng Blog & Tin tức Câu hỏi thường gặp Hỗ trợ & Wiki Twitter
Hồ sơ Tùy chỉnh Hồ sơ Tài khoản và Thanh toán Ticket Hỗ trợ của tôi Liên hệ Hỗ trợ Các ý tưởng đã đăng Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất