Yesterday I made a TA to get my own opinion where the bottom for BTC could be.
From a technical perspective the BTCUSD chart looks very bullish to me atm and we also got a small upwards movement since touching these supports. So around 7.5k could have been the bottom. Below a list of bullish signs.
Bullish Signs since yesterday:
- fibonacci retracement level 0.382 support
- EMA 20 on EMA 100 support
- high from 08.11.2017 at 7.9k support
- RSI at around 30 -> historical support
- perfect ABC Elliot Wave correction
If we can't keep the ongoing (small) uptrend, fall back and break through the mentioned supports then we are heading to the very important support zone of 5.5k (trendline support & low of 12.11.2017 at 5.5k support). This could happen if there is even more/worse FUD..
I will keep you up to date regarding this analysis! :)
Feel free to ask questions or comment
From a technical perspective the BTCUSD chart looks very bullish to me atm and we also got a small upwards movement since touching these supports. So around 7.5k could have been the bottom. Below a list of bullish signs.
Bullish Signs since yesterday:
- fibonacci retracement level 0.382 support
- EMA 20 on EMA 100 support
- high from 08.11.2017 at 7.9k support
- RSI at around 30 -> historical support
- perfect ABC Elliot Wave correction
If we can't keep the ongoing (small) uptrend, fall back and break through the mentioned supports then we are heading to the very important support zone of 5.5k (trendline support & low of 12.11.2017 at 5.5k support). This could happen if there is even more/worse FUD..
I will keep you up to date regarding this analysis! :)
Feel free to ask questions or comment
Comment:
Uptrend got broken - possibility for double bottom:
Comment:
Technically bullish signs all broken.
Take a look at my further analysis, I also explain why, in my opinion, we are having such a heavy correction atm:
Take a look at my further analysis, I also explain why, in my opinion, we are having such a heavy correction atm:
