ok we had an interesting weekend and it seems like the >7800 levels are still holding. I wanted to show 2 scenarios that might happen according to my latest multi exchange OB and RSI analysis of BTC -2.06% .
bottom green line = trend since november 2017
red line = bear trend since january 2018
blue lines = latest regression trend channels
you clearly see that we broke the bear trend since january last week (green/white arrow) and are still holding the new top regression trend channel. Even the smaller regression trend channels from the past 2 weeks had a short to mid term upwards trend. Both of them showed some major support (bottom support/top resistance) when one of those were broken, we observed major spikes either downwards or upwards. Now those supports are still here ( OB analysis) 2nd one is just not reached yet.
First scenario (black line): We see a breakout of the actual regression trend channel to the mid support at approx 7660$ and then a rebound to the upper resistance levels at 9200$.
Second scenario (yellow lines): We see a breakout of the actual regression trend channel to the bottom support at approx 6950$ and then a rebound to the upper resistance levels at 9200$
Both scenarios are only active as long as the bottom support line (green) holds. As long we are above the bottom support we are in a neutral trend.
Share your thoughts and thx for reading!
bottom green line = trend since november 2017
red line = bear trend since january 2018
blue lines = latest regression trend channels
you clearly see that we broke the bear trend since january last week (green/white arrow) and are still holding the new top regression trend channel. Even the smaller regression trend channels from the past 2 weeks had a short to mid term upwards trend. Both of them showed some major support (bottom support/top resistance) when one of those were broken, we observed major spikes either downwards or upwards. Now those supports are still here ( OB analysis) 2nd one is just not reached yet.
First scenario (black line): We see a breakout of the actual regression trend channel to the mid support at approx 7660$ and then a rebound to the upper resistance levels at 9200$.
Second scenario (yellow lines): We see a breakout of the actual regression trend channel to the bottom support at approx 6950$ and then a rebound to the upper resistance levels at 9200$
Both scenarios are only active as long as the bottom support line (green) holds. As long we are above the bottom support we are in a neutral trend.
Share your thoughts and thx for reading!
