Dear all, this is my bearish idea for BTC. Despite the fact that bulls were able to demonstrate some strength by pushing the price towards 6.8K from 5.7K levels - I believe this was a relatively weak bounce and the trend will generally remain bearish until a positive catalyst comes up.
According to monthly MACD , 8, 13, 21, 55 EMAs on the weekly chart, bearish divergence and shooting star pattern that can be clearly observed on the daily chart - BTC should start retracing shortly.
I expect the BTC to retrace to 4.7K levels and the bull run to commence this fall, probably October- November 2018.
According to monthly MACD , 8, 13, 21, 55 EMAs on the weekly chart, bearish divergence and shooting star pattern that can be clearly observed on the daily chart - BTC should start retracing shortly.
I expect the BTC to retrace to 4.7K levels and the bull run to commence this fall, probably October- November 2018.
Trade closed manually:
Bulls been able to push the price higher than expected in the given time-frame. After a longer study on multiple time frames I have come to conclusion that 8K levels will be tested after all. Current idea has been invalidated. Stand by for further notice.
Comment:
Second and the final version is coming.
