BTC ABOUT TO DUMP! Heres why!
Ill keep it short an simple.
For my analysis im using my indicator The Oracle.
It contains the Wavetrend, a own modified RSI used for entries, Stochastic, bear/bull divergence signals and BBWP.
10hr RSI bearish close:
The 10 hourly RSI closed below the support trendline as shown on the right chart.
This means a bigger dump can be expected. It can either dump here right away, or first reset the lower timeframes and pump to the golden pocket or 0.5 fib level.
BTC right now:
On the 15min (left chart), BTC seems to be in an ascending triangle. The volume is decreasing, which is a condition for patterns like this.
If thats indeed a triangle, then the pump to the upside might happen in the next 3hr-4hr
The target of this triangle is at $37580
Its at the same level as the 0.5 level from the 10 hourly timeframe AND also the VAL from the big range from 9th november.
15min RSI bullish close
On the left chart, the 15min RSI closed above the resistance trendline. This could be a confirmation that BTC will sooner than later break out of the ascending triangle to the upside.
NOTE: Theres also a potential shance for a bearish close (see chart) when RSI closes below the support trendline
What will happen after BTC reaches the target?
Im would say the 10hourly bearish close will dump BTC to 30k-34k
NOTE:
$37200 is also a level of interest and the pump out of the triangle could be a fakeout to trap longs.
For my analysis im using my indicator The Oracle.
It contains the Wavetrend, a own modified RSI used for entries, Stochastic, bear/bull divergence signals and BBWP.
10hr RSI bearish close:
The 10 hourly RSI closed below the support trendline as shown on the right chart.
This means a bigger dump can be expected. It can either dump here right away, or first reset the lower timeframes and pump to the golden pocket or 0.5 fib level.
BTC right now:
On the 15min (left chart), BTC seems to be in an ascending triangle. The volume is decreasing, which is a condition for patterns like this.
If thats indeed a triangle, then the pump to the upside might happen in the next 3hr-4hr
The target of this triangle is at $37580
Its at the same level as the 0.5 level from the 10 hourly timeframe AND also the VAL from the big range from 9th november.
15min RSI bullish close
On the left chart, the 15min RSI closed above the resistance trendline. This could be a confirmation that BTC will sooner than later break out of the ascending triangle to the upside.
NOTE: Theres also a potential shance for a bearish close (see chart) when RSI closes below the support trendline
What will happen after BTC reaches the target?
Im would say the 10hourly bearish close will dump BTC to 30k-34k
NOTE:
$37200 is also a level of interest and the pump out of the triangle could be a fakeout to trap longs.