a_z_91

Critical point (Trend Reversal vs Continuation)

BITSTAMP:BTCUSD   Bitcoin
With 5900 acting as a support, on the daily chart on the 22/6/2018 the large bald red candle formed a start of a Bullish Harami. This can be a sign of a reversal, only if the daily candle in the uptrends close above 50% of the 22/6 candle, that is around 6370 USD. The 6370 will act as a resistance but once it is broken we're looking at a possible reversal and the next resistance level will be at about 7560 USD (Fib 0.618 + Resistance ).

The second scenario (Bearish): if we and begin a downtrend from 6370 which means a continuation of the downward channel -> we could be heading down towards 4300 USD support level (Fib 0.786).
Feragatname

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