BITCOIN - 8 BUY Confirmations on The Current Price Level!!
Hello, followers and other TradingView users!
Technically, here we get probably the delayed short-term bounce for day traders!
Bounce criteria:
1. April low works as a support - $6425
2. Trendline from the wicks since 15.09.2017 (three touches, today was fourth)
3. Fibonacci retracement area, not the perfect one but between the 62%-78% (Pulled 24.06.2018-29.07.2018)
4. Fibonacci extension level 161% (Pulled 20.07 - 25-07)
5. On the 4h chart - RSI Divergence & RSI is on the 'trendline'
6. Current price action shows us on the shorter timeframes nice harmonic corrections between the Fibo levels.
7. We have completed the 5th wave on the Elliott Wave theory
8. ABC pullback gives us same length 'legs'. On the Elliott Wave, those are 3rd and 5th waves
Hopefully, this helps You out a little bit to confirm Your own analysis! DEFINITELY make Your own research and if You don't understand some of my points or I miss calculate something then please leave a comment!
To get updates - click the FOLLOW button and don't forget to LIKE!
Thank You for your support.
Technically, here we get probably the delayed short-term bounce for day traders!
Bounce criteria:
1. April low works as a support - $6425
2. Trendline from the wicks since 15.09.2017 (three touches, today was fourth)
3. Fibonacci retracement area, not the perfect one but between the 62%-78% (Pulled 24.06.2018-29.07.2018)
4. Fibonacci extension level 161% (Pulled 20.07 - 25-07)
5. On the 4h chart - RSI Divergence & RSI is on the 'trendline'
6. Current price action shows us on the shorter timeframes nice harmonic corrections between the Fibo levels.
7. We have completed the 5th wave on the Elliott Wave theory
8. ABC pullback gives us same length 'legs'. On the Elliott Wave, those are 3rd and 5th waves
Hopefully, this helps You out a little bit to confirm Your own analysis! DEFINITELY make Your own research and if You don't understand some of my points or I miss calculate something then please leave a comment!
To get updates - click the FOLLOW button and don't forget to LIKE!
Thank You for your support.
Comment:
At the moment we are struggling around the $6500! In the 15 min. chat we have an HH(Higher high) and LL (Lower low) tips which give us mixed signs! For us, luckily, we have a triangle which will guide us to the future direction! Right now we have some bullish candlestick patterns on the 1h timeframe and IF we make a breakout from triangle upwards then this move is also supported from the Fibonacci bounce!
So, let's see what we get from here because the last hour candle closed again below the $6500!
If You want to know what confirms bearishness then it would be a 1h candle close below the $6425 but let's take this step by step!
So, let's see what we get from here because the last hour candle closed again below the $6500!
If You want to know what confirms bearishness then it would be a 1h candle close below the $6425 but let's take this step by step!
Trade closed: stop reached:
It happens! :(
Comment:
Here is one lesson, You have to take with You! IF there is a strong setup or a strong level and the price stays around that area for a while then this pause decrease the trade success rate!
At the moment we see a solid selling pressure and we take down support after support! Tomorrow I make new analyse and I pu there some bullish and bearish confirmation areas for midxterm perspective!
If the price continues to go down then this “clean area” would be in the game again! Find out what is the clean area here (just read the text):
See You tomorrow and good night!
At the moment we see a solid selling pressure and we take down support after support! Tomorrow I make new analyse and I pu there some bullish and bearish confirmation areas for midxterm perspective!
If the price continues to go down then this “clean area” would be in the game again! Find out what is the clean area here (just read the text):
So, just a small confirmation that bulls try to push the price higher! ;)