Felix000
Short

#Bitcoin in reverse can it hold above low of 23rd June Y/N ?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Closing price of 26th June ended below the open of 25th causing me to review my long position.

It was reason for me to review because on 24th there was a divergence between MACD histogram and the opening and closing price. The close of the 25th was a bullish signal in my opinion (marked with yellow arrow) because it closed outside the open and close of the 24th (the day of divergence). The market has now closed down in reverse outside the open and close of the 24th again marked with yellow arrow (the day of divergence) . If market closed back up above open of 26th that would be reason to review short position.

The high of 19th and low of 23rd are important in my study and created like so - take two fractal distances and multiply by two, and do same for the next, and I then use those two bars to form a band of support and resistance (this study is stil a work in progress). That's why I've got in my heading "Can bitcoin hold above the low of 23rd June?"

So I'm now cautiously bearish . If price breaches low of 23rd I'd be even more bearish . An interesting bullish factor could be if the market would close above the basis of the Bollinger line in yelow (I've taken out the high and low bands). Bollinger is set at 20, close, 3.

NOT ADVICE. ALL STANDARD DISCLAIMERS APPLY. DO YOUR OWN RESEARCH.
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