Bitcoin: If you followed my presious chronicles here is where we are. Be carefull and alert. We may have see the bottom signifying the end of a correcting cycle but doesn't mean it cannot be retested if bears manage to hammer bulls down from next high. Or maybe that resistence is already the next high. I don't know.
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RSI look already gone
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Hope that upper channel support
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There is a lot of congestion just below that resistence
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Always be aware in which timefrime price provide signals. It's important to get the timing right for understanding when you will have to pull the trigger. lol
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5min divergence with RSI when approaching that resistence
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May go for the lower band of the upper channel from that high
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After the divergence it is looking for support
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10.200 looks supported
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Let's wait and see. Be patient
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Just be carefull
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RSI is shooting and price is not following stopped by that resistence
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It may present us a nice scenario but we need to wait and be alert.
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Let's look at the 15min chart...
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Same as before...the attack is still ongoing
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look at RSI
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may that be a support for a little push? I don't know
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the 11.400 strong resistence is very close
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RSI is not high enaugh yet
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Where are the volumes?
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Pushed back
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Let's see if supported somewhere
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It's preparing it's next move
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Let's look where we are in the 30min chart
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1min chart volume increasing
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be patient
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Let's see 30 min chart
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Are those volumes enough to make it go higher for a little bit? I don't know
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Bulls have not won yet
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Let's see for a retest. Let's see
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I don't like it. It shuold have gone much higher with that move
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Maybe we need to wait for more volumes to accumulate? I don't know
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This is due to strong bearish pressure
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Where are the volumes in the 60 min charts?
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back to the 5min chart
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little divergence with RSI
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Let's see if with the help of moving averages we can get more clues.
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Judging by the moving avarages 100SMA and 200SM we have a nice golden gross meaning the trand long term has changed but in my view we it still need a low to conferm this possible new trend
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This is why it very important to be carefull.
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Ok...remember my post on the golden cross?
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That signal was found in a 15minute chart
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That signal originated a little upper channel remember?
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That helped the price to get where it is now
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Now we discover another golden cross made by longer SMAs
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I don't know but if that 10400K resist and price 11.000 we may see a move confirming that bigger channel. I don't know. Just an idea. What is yours?
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Sorry, if 11400 resist and 11000 do not support
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So far 11200K supporting
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Bearish pressure represented by the two SMA coming down and stopping bulls run
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If you look at the last 10 candles this is Elliot Wave
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3motvie, 2 corrective up to the SMAs...and then the correction
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We need to focus more
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After hitting those SMAs price corrected 50% fib of previous candle
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sorry "retraced"
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Its holding there waiting for a move...its' quite at the moment
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Divergence with RSI on 1min chart but only becomes effective if RSI cross the 50 and the cross of the green SMA...bulls may try another attempt there but carefull could make a triple top
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Anyway it's a divergence on a dinamic bullish support
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But on such a low timeframe need to cross the SMA for the upside to get momentum
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The divergence was not confirmed
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And priced dipped a little bit
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Sorry but platform stopped working for a while
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I wrote that 11K would have been a nice support but platform stopped working. never mind...
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This has just been published by Goldbug1...let's see his view which sure will spread some light on what is going on...let's read it
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Ok...I am done for the day. I need to read this and make these concepts mine. Always be carefull and alert and follow professional traders. Not amateur like me. Thank you
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No. Its not trading acrive. I just noted how it developed here. Is that a re-test?
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Ok let's wait and see. Too many bulls and bears trap around these days.
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Ok. I am done for now. Time for a lunch.
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Be carefull. Click on the above and let me know what you think. I know market is doing another things but please be carefull.
@severt, it made an higher low which is a good start
cozzamara
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@cozzamara, and now may try to follow that upper channel...who knows...just a guess...that 11400 is proving to be a solid resistence. I don't know we have to wait if bulls find support before the 11K and see if try again. Don't think so but a triple top cannot be exluded on that resistence. We need to wait
ilkayozcelik
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at last we are gong 12393 :)
cozzamara
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@ilkayozcelik, Hi, sorry I noted you only now. I was concentrated on understanding what is going on
cozzamara
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@ilkayozcelik, Yes but bulls have been stopped again