Hello everybody,
Unfortunately the 50 day MA is very resistive, as it was on 14 November... (orange)
Also we are close to the weekly log line (former support) of low closing candle points from februari, which could we a resistance. (red diagonal line)
The good bullish thing is that we are very close to the 200 weekly MA (green line) and building up a small ascending triangle.
Also we have the forming of an inverse H&S pattern.
Bitcoin could get punched back to the 200 day weekly MA, but the red rectangle is where i would definitely go short.
The log chart trend line is very resistive from beginning of 2018.
Also bitcoin could bounce down on the 100 day MA (blue) or the lineair MEAN trend line, not in this drawing, but around 5900 usd.
The green 200 weekly MA where I would go long for a swingtrade.
Anyway on the short term it will never get above the 6000 usd. To much resistance and to little support, the 200 weekly MA closeby could be necessary to get through all of it.
If we get above the 50 day MA, the blue H&S neckline and the red log line, I could go long to the red rectangle or the 100 day MA.
Good luck everybody.
Unfortunately the 50 day MA is very resistive, as it was on 14 November... (orange)
Also we are close to the weekly log line (former support) of low closing candle points from februari, which could we a resistance. (red diagonal line)
The good bullish thing is that we are very close to the 200 weekly MA (green line) and building up a small ascending triangle.
Also we have the forming of an inverse H&S pattern.
Bitcoin could get punched back to the 200 day weekly MA, but the red rectangle is where i would definitely go short.
The log chart trend line is very resistive from beginning of 2018.
Also bitcoin could bounce down on the 100 day MA (blue) or the lineair MEAN trend line, not in this drawing, but around 5900 usd.
The green 200 weekly MA where I would go long for a swingtrade.
Anyway on the short term it will never get above the 6000 usd. To much resistance and to little support, the 200 weekly MA closeby could be necessary to get through all of it.
If we get above the 50 day MA, the blue H&S neckline and the red log line, I could go long to the red rectangle or the 100 day MA.
Good luck everybody.