Bitcoin (BTC): Finding the Bottom

29 May 2018

In the previous idea we defined the current reversal zone as 6950-7100. Overnight the price dropped to 7040, triggering some limit orders:

I still expect the bottom to be formed in the next couple of days. There a couple of technical readings to consider:

• Key Support Area
  
• Bullish Divergence (RSI, MACD)
  
• Falling Wedge pattern
  
• Volatility Squeeze Pattern. When this pattern emerged last time, the price plunged. This time the opposite is expected.
  

Breakout from the wedge may serve as a trigger for longs.

29 May 2018

Not

Mind that we may still be missing one wave down as part of Ending diagonal triangle pattern. Be sure to place appropriate (safe) SL orders.

29 May 2018

Not

Stellar (XLM) looks very promising for medium-term trading:

29 May 2018

Not

So far, so good. Important intraday levels here:

29 May 2018

Not

EOS smashed by 'epic' vulnerability reports today. Be sure to set alerts for this potential H&S bottom:

29 May 2018

Not

Correction time, impulse done.