The technical analysis uses multiple indicators.
> RSI is not a strong indicator, buy - sell undecided
> The 3 trendlines going down that I drew were all broken to the up side. This is a good sign that bearish movement could be over.
> 2 cycles ago, the yellow dashed arrow indicates the time before the huge breakout. It is probably no coincidence that the red trendline was crossed in the current cycle and that after the same time (again yellow dashed arrow).
> The Moving Averages are lining up nicely. Strong indicator that price will move soon.
> Fib levels line up nicely around 225 - 230 satoshi. That's over 110% profit and that's only Target 1.
My believe is we'll head to Target 1 before the end of 2018.
- Some Moving Averages that are commonly used.
- Trendlines
- Cycles
- Waves
- Fibonacci Retracement (1 was drawn over all prices + 1 was drawn from last downfall)
- RSI
> RSI is not a strong indicator, buy - sell undecided
> The 3 trendlines going down that I drew were all broken to the up side. This is a good sign that bearish movement could be over.
> 2 cycles ago, the yellow dashed arrow indicates the time before the huge breakout. It is probably no coincidence that the red trendline was crossed in the current cycle and that after the same time (again yellow dashed arrow).
> The Moving Averages are lining up nicely. Strong indicator that price will move soon.
> Fib levels line up nicely around 225 - 230 satoshi. That's over 110% profit and that's only Target 1.
My believe is we'll head to Target 1 before the end of 2018.
Trade active:
I made a new analysis based on the ABC pattern.
Comment:
Breakout postponed to the end of the year...