Hi Folks!!
Hope you all have had a lovely Crypto November and prepared yourself for a possible cold crypto winter :)
I thought I would continue my technical analysis from my previous articles, so if you have not read it yet; please do.
Something did trigger a sell like I thought it would, but not sure if the cause was correct. However, in spirit of full disclosure, I did put a buy order at 6500 Euro.
Reason is that my full day job does not allow me to watch the price and react on alerts during the days, so I figured I would just put in a buy order at a really low level just in case it dipped below.
That buy order did suddenly kick in yesterday I think it was, and looking at the chart now; I am not sure if that was a good thing or bad thing :)
Changes:
No changes made to the chart.
Chart:
4 hour chart of BTC/EURO pair from Coinbase.
Conclusion:
The price fell to 6000 Euro and did a great bounce, and the RSI is telling a possible trend reversal sign with higher low and price candles showing lower low.
What the price will do now is very hard to predict since the bounce might just be short lived after hitting the triangle trend line (at 6780 euro).
If it breaks that resistance at 6780 and remains within, it has a good probability to continue its price movement further inside the triangle trend line, moving between: 6840 - 7456 EURO.
If it does not break that resistance, it has a good probability to continue its fall down towards 5650 EURO
My course of action is to tank my account in the exchange with fresh FIAT and stand by to buy more.
PS
Although there is a small yoda inside of me saying it will drop to 5000 EURO, but not sure if I can trust my yoda in this :)
