I am just holding my btc, but I think we will see btc/usd goto ~4k (or close), then fall to 3k, test support, then ~2785 and perhaps even test ~$2600 btc.
-4hour stoch rsi is already reaching overbought - 91.6,83.5 (overbought and running out of gas)
-4hour rsi 50.2 (nominal, but approaching overbought levels, closer to overbought than oversold)
-price is below 200 ema
-50/200 ema cross recently which is significantly bearish
-current news is bearish as china has 3 exchanges that have announced they are going to stop trading or even closing for good. How many other chinese exchanges will close? Honestly, I really hate that China pulls these sort of weasel moves.
-support candles on 1 hour, 4 hour, daily are weak in comparisson to other strong support candles. To me this says a good indicator of another correction phase.
-1 hour shows a current bearish t-k cross, but price is well above, so we may see a bullish t-k cross.
-4 hour shows bearish t-k cross.
If you guys are long-term then this would be a good buying opportunity as China will likely say "Oh wait...we have unbanned trading on exchanges." They do this crap all the time.
Fundamentally, blood is on the streets and a wise (long term) investor buys when 80-90% of them are running out.
Honestly, though, I would just buy eth, not btc, because it has higher potential for return and a higher rate of innovation.
The best entry would be when rsi falls below 30 and stoch rsi hits 0,7 or below
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-4hour stoch rsi is already reaching overbought - 91.6,83.5 (overbought and running out of gas)
-4hour rsi 50.2 (nominal, but approaching overbought levels, closer to overbought than oversold)
-price is below 200 ema
-50/200 ema cross recently which is significantly bearish
-current news is bearish as china has 3 exchanges that have announced they are going to stop trading or even closing for good. How many other chinese exchanges will close? Honestly, I really hate that China pulls these sort of weasel moves.
-support candles on 1 hour, 4 hour, daily are weak in comparisson to other strong support candles. To me this says a good indicator of another correction phase.
-1 hour shows a current bearish t-k cross, but price is well above, so we may see a bullish t-k cross.
-4 hour shows bearish t-k cross.
If you guys are long-term then this would be a good buying opportunity as China will likely say "Oh wait...we have unbanned trading on exchanges." They do this crap all the time.
Fundamentally, blood is on the streets and a wise (long term) investor buys when 80-90% of them are running out.
Honestly, though, I would just buy eth, not btc, because it has higher potential for return and a higher rate of innovation.
The best entry would be when rsi falls below 30 and stoch rsi hits 0,7 or below
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Comment:
If it goes to sub $3k range, I plan on buying more btc or eth. Big IF, but the fibs show it can retrace that far.
-4 hour stoch rsi says it should fall further, (74.7,75.98)
-4 hour rsi -50.7
-the candles still say btc/usd has weak support on 4 hour.
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