[Red Apple] "Negative signals"_BTC/USD_18.09.05

modified trend line conservatively as BTC's moving.
Let's analysis BTC

If you are busy, you can just read below briefly
'A. Briefing '
'E. Summary and Strategy'
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A. Briefing
. Move inside of Ascending Wedge
. Approaching trend line

B. Daily chart

a. Trend
Just before meeting trend line
b. Candle
Bullish Engulfing Candle
c. EMA
Golden Cross between 20EMA and 50EMA
d. Pattern
Ascending Wedge Pattern, ab=cd pattern
e. Sum.
There're good signals like Golden Cross and Bullish Engulfing Candle. However, there're also bad signals in terms of trend and patterns.

C. 4H Chart

a. Trend
recommend buy BTC when descending trend line(red) was broken and then it goes up about 20%. At the moment, it keeps going up inside of wedge and channel. should focus on breakout of just above trend line.
b. Patterns
a)

Ascending Wedge on Bitflyer. check this pattern with Bitfinex chart.
b)

Cup and handle pattern still effective
c. Sum.
this situation is quite difficult to decide buy or sell due to trend line and pattern.

D. Indicators in long-term

Check indicators with repeated pattern in this year
a) RSI : RSI becomes higher high since Feb. Check this time make it higher or not.
b) Stochastics : There're clearly shown for reversal signal. compare with now.
c) MACD : Dead Cross and MACD's high and low becomes narrow.
d) CCI : CCI also quite clearly shows for reversal signal. compare with now.
e) Sum. : There're no good signal in indicators. additionally, Stochastics and CCI are showing divergence in over bought. but there's one possibility for going up more. If RSI successfully make it higher high, then, BTC price may be touched next descending trend line.
Check indicators and just understand market's situation.

E. Summary and Strategy
At the moment, it is quite simple. going up through trend line or not.
Today's strategy is still quite similar with previous idea.
a) In case rise : confirm breakout of trend line and buy
b) In case drop : in this time, not recommend buy BTC when it is dropped to neck-line(cup and handle). if BTC's falling down in this time, neck-line can be broken easily. but if you still want to trade from neck-line, check support and then trade. if neck-line is broken, BTC can go down to $6640~$6830.

Trade safely
If i catch 'buy signal' or something special, 'll comment

Thanks and if you got help, click +Thumb up!, +Follow!!. ^^

Comment:

dump a lot as we expected. at the moment, it is being supported lower side of channel and 50EMA on daily chart.

If there's additional drop, check whether it is supported at gray boxes or not.

in this time, recommend you to trade after confirmation of buy signal after support.

This is the end of my idea and comment.
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