BTCUSDT Breaking Support - SWING Opportunity

5 Ağu 2018

Salam.

BTC seems to be breaking down to the bottom of the relevant wedge pattern; could be a short opportunity.

We failed to break through wedge trend line, which led to the following:

• Negatively broke out of upward sloping channel.
  
• Broke 21 EMA, currently testing 50 MA.
  
• Broke significant .618 fib level.
  

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• MACD cross shows heavy bearish divergence.
  
• RSI can bounce around oversold for some time, look to the past for ideas.
  

Bottom looks like $5900.

Peace,



DISCLAIMER:
MY IDEAS ARE JUST OPINIONS, NOT FINANCIAL ADVICE. I LIKE CHARTS, THIS IS JUST FOR FUN...

8 Ağu 2018

Not

Still got some room to go.