FX-BRATISLAVAS

Complete Technical Analysis on BTCUSD (III) [Daily]

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BITSTAMP:BTCUSD   Bitcoin
(III) Daily: The Upper and the Lower Bollinger Band are converging and the Middle Bollinger Band Indicates that Inverstors are prepared for Lower Prices. We expext a future Squeeze. Senkou Span A has some slope to the downside but Senkou Span B is flat. Tenkan-Sen has crossed the Kijun Sen from above to below. Price is heading to the level at ($9,370.38) . We notice bearish Fractals and Spikes above the Upper Bollinger Band, which were sell signals. A Past Price Chickou Span Cross occurred and now Chickou Span found Resistance at Senkou Span B of the Kumo Cloud. Additionally, Stochastics crossed again above the 80% line and we had Overbought Conditions for 14 Days. We notice that an Impulsive Elliott Wave to the upside was completed . Also, Waves A and B of the Corrective Zig Zag were formed. We expect the Corrective Wave C and the Price has the potential to correct at 50.0%, 61.8% and 78.6% levels of Fibonacci Retracement. Namely, at ($8,880.46), ($7,726.69) and ($6,064.46). We also notice Fibonacci Confluence at 61.8% and indicate a Future Level of Harmonic Importance.

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