WHAT IS NEXT BTC’s MOVEMENT
After strong reduction from top - 20.500. Price is showing us its reaction at local strong support 19.0xx. I am expecting that a reversal movement will happen but at this time, I don't have enough confirmations for making conclusion. My detail ed analyst as below:
1. Candle sticks pattern: Price doesn't still complete any reversal candle stick pattern.
2. RSI: RSI line is moving within oversold area. It's mean that bears power is slowing down. I will consider it as one of reversal signal but it is not strong enough.
3.MACD: macd line still moves under signal line. Beside,MACD histogram’s slop is still moving down.
Because of these consideration,I propose that we should stand outside and wating for more reliable signals.
After strong reduction from top - 20.500. Price is showing us its reaction at local strong support 19.0xx. I am expecting that a reversal movement will happen but at this time, I don't have enough confirmations for making conclusion. My detail ed analyst as below:
1. Candle sticks pattern: Price doesn't still complete any reversal candle stick pattern.
2. RSI: RSI line is moving within oversold area. It's mean that bears power is slowing down. I will consider it as one of reversal signal but it is not strong enough.
3.MACD: macd line still moves under signal line. Beside,MACD histogram’s slop is still moving down.
Because of these consideration,I propose that we should stand outside and wating for more reliable signals.