Hey guys, here are few reasons, my point of view - BTC, possibility of the turnover.
I will describe it closely.
It is really hard to predict, what the market will do. I'm just describing what I can see, this is not advice for investing, just my point of view. BTC is in the hands of the big players, so I guess retail traders wouldn't influence BTC extremely. In the next sentences I will describe my opinion.
4h, Daily and the Weekly CHART is set up - the down trend, so this is risky, but we need to find out the good position or opportunity to buy.
Indicators:
EMA can show us, we are in big down trend, we are under EMA on the 4H, DAILY chart. BUT, what is important, when we look on the WEEKLY chart, we can notice the 34 EMA on the weekly can be BIG SUPPORT and can be the signal for turnover. It has been set right now at the value - 8100USD. Next support could be at 6710USD (from the EMA -50). This is view, when we analyze EMA.
Support zone from TA is at the value 82500-8000 USD, the next one is at the value 5300-5500 USD (this is really strong one).
When we look on the trend line, we are down, we can see flag formation is building up etc.
I have told mostly negative part (except weekly EMA), which you could notice, BUT here is for me BIG signal for BUY. And it is VOLUME. On the 4H chart, we can notice a massive LONG VOLUME BAR, which is the biggest 4h long volume bar in the last weeks. Any bottom in the last weeks hasn't done so big volume UP. No one! There have been set a big orders for BUY. This is the strongest LONG VOLUME BAR (on the 4h chart) from the 2017-11-12 at 04:00. This is really strong signal for us, which is giving me hope.
Stoch RSI (daily) - we are OVERSOLD, which is the next signal for me, to buy.
But don't forget, we are still in the down trend, so this isn't decisive to the way on the moon... For aggressive traders, this is (was) a big opportunity.
I will describe it closely.
It is really hard to predict, what the market will do. I'm just describing what I can see, this is not advice for investing, just my point of view. BTC is in the hands of the big players, so I guess retail traders wouldn't influence BTC extremely. In the next sentences I will describe my opinion.
4h, Daily and the Weekly CHART is set up - the down trend, so this is risky, but we need to find out the good position or opportunity to buy.
Indicators:
EMA can show us, we are in big down trend, we are under EMA on the 4H, DAILY chart. BUT, what is important, when we look on the WEEKLY chart, we can notice the 34 EMA on the weekly can be BIG SUPPORT and can be the signal for turnover. It has been set right now at the value - 8100USD. Next support could be at 6710USD (from the EMA -50). This is view, when we analyze EMA.
Support zone from TA is at the value 82500-8000 USD, the next one is at the value 5300-5500 USD (this is really strong one).
When we look on the trend line, we are down, we can see flag formation is building up etc.
I have told mostly negative part (except weekly EMA), which you could notice, BUT here is for me BIG signal for BUY. And it is VOLUME. On the 4H chart, we can notice a massive LONG VOLUME BAR, which is the biggest 4h long volume bar in the last weeks. Any bottom in the last weeks hasn't done so big volume UP. No one! There have been set a big orders for BUY. This is the strongest LONG VOLUME BAR (on the 4h chart) from the 2017-11-12 at 04:00. This is really strong signal for us, which is giving me hope.
Stoch RSI (daily) - we are OVERSOLD, which is the next signal for me, to buy.
But don't forget, we are still in the down trend, so this isn't decisive to the way on the moon... For aggressive traders, this is (was) a big opportunity.
The next support is about 4800-5300 USD and this position will be important. We can easy buy at this value and hold for some time.