- See a golden fibonacci ( fibonacci sequence x 1.618) ratio play a significant part while it's now acting as a resistance at the moment. If the price manage to close above it consecutive times, i will be a good trend for bullish trend.
- There's a scenario also the price action will retest it's current up trend line for more bullish trend validity. conversely, fail to do so would be a bad sign for bullish trend .
Indicators :
DMI : +DI and -DI is flat for now indicate a consolidation is in progress while ADX i slightly slow down it's momentum although is still consider a major bullish trend is in progress for now.
MACD : at this time macdline is in downward momentum, it still hover on bullish area and currently no bearish divergence in sight for now.
Thank you for your time to read this post and please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion.
and please feel free to share what your thought on comment section.
peace.
- When Fear and greed index reach all time low around febuary 06 2018 when the Fear and Greed Index hit value 8 (extreme fear), the lowest point of Fear and greed Index. the price suddenly just shoot up almost 100 % within 1 month.
- Since there's no retracement on this parabolic run up on BTC/USD. It would be Interesting to see what would happen in the near future and how hard the retracement would be.
- Currently resting on 12500 area. if it maintain and consolidating well above that price.. i expect a major run up toward 13300 + area for short time. IF, the price could maintain the parabolic up trend line.. as long it's above that line, i believe there still a bullish run up left before retracement could begin.
4 hour Indicators :
- MACD : Still Bullish from MACD line is still made a new high than previous run up. Buyer histogram is continue building it's momentum.
- RSI : made a same high and moving in over bought area. though in this parabolic run up it cannot be measure correctly for upcoming correction rather than a how well the RSI is maintain above 50 - 100 area (bullish area).
- DMI : +DI is spiking and -DI still consolidating far away from +DI. ADX(momentum strength) is still rising