Price moment is starting to stagnate to go down while weekly MACD is calling for a bullish run up. In this chart I charted bearish and bullish trendlines which all seem to point to first week of october where the bullish momentum will start to overtake the downtrend momentum and signaling a bottom. So far we have seen 2 downwaves and after this successive uprun that will follow in next few weeks till the end of first week of august (08-08-2018), after this run we will enter the final downtrend based on this chart and analysis bottoming around first week of october.
Price target for this uprun lies around 8300-8650 USD and will probably go down to 5420-6600 USD afterwards.
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-TheTrex
Price target for this uprun lies around 8300-8650 USD and will probably go down to 5420-6600 USD afterwards.
If you find my analysis useful or would like to discuss anything feel free to comment/like or have a look in my signature for more awsomeness :)
-TheTrex
İşlem aktif:
Slowly we are nearing our 8300-8600 projected zone. At the moment on smaller TF bitcoin is overbought and I do see it making some swings before hitting the target in upcoming days.
İşlem aktif:
We didnt manage to enter target zone above 8600, but I've you scaled in shorts on or main target area (8300-8600) you should be fine and in profits right now. I'm comparing current down trend to latest uptrend and also the previous fractal to 9929 USD. BTC already did a similar double top on MACD like previous downtrend. Current crucial support is 7233-7366 with potential retracement to 7500-7700
Yorum:
Not looking so good at the moment for bitcoins support, we tested sub 7000, might bounce but definitely expecting more down after this weak rally to 8300-8600
Yorum:
Looks like 7 or 8 august is bottom/retesting lower trendline then followed by some retesting in 7xxx levels
İşlem aktif:
Time & price target hit (8 agust/6100-6150), keep an eye at the 12H macd to cross up this would be the safest place to scalp a long. Resistance at 6600-6800, from prior distribution zone. We will be staying in this zone for a few days before more movement will occur. More down movement is expected longterm if we break below 5800-6000.
İşlem aktif:
Nearing 7 October!