philocrypt0

BTC Idea: A consideration

KRAKEN:XBTUSD   XBTUSD
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 .

snapshot

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

snapshot

snapshot

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
Tiếng Việt
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
日本語
한국어
简体中文
繁體中文
Trang chủ Sàng lọc cổ phiếu Công cụ tìm kiếm tín hiệu Forex Tìm kiếm tín hiệu Cryptocurrency Lịch kinh tế Cách thức hoạt động Tính năng biểu đồ Điều khoản sử dụng Người điều hành Giải pháp Website & Môi giới Widgets Thư viện biểu đồ chứng khoán Yêu cầu tính năng Blog & Tin tức Hỏi đáp Hỗ trợ & Wiki Twitter
Hồ sơ Tùy chỉnh hồ sơ Tài khoản và Tính phí Tickets Hỗ trợ của tôi Liên hệ hỗ trợ Các ý tưởng đã xuất bản Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất