We bounced on the 100d MA. That is a good sign for bitcoin, currently we are trying to break 54k. If we break this we are back in bull territory on the daily timeframe. Bearish scenario is that we can't hold 53k then it is possible we drop back again to 46k.
We're not done with our correction. We're seeing a bounce off the 100 day MA, we should see some resistance at the 50 day MA at around $57k, come back down to retest the 20 week MA (around $47k by the time we test it again) and then lift off for a new all-time high.
Got some lines and what not there, all tasty stuff right.
Checking around various time frames, got various gaps to retest and fill and what not.
Got the overbearing original trend from last 10 years or so in heavy green dashed channel.
That overbearing big trend, which we broke out of, conveniently going to line up with the 100DMA, along with a support line...
Yesterday I talked about BTC's trend of bouncing off of the 100 DMA. Today we see a perfect Doji is forming EXACTLY on the 100 DMA, which is a very strong reversal indicator.
Mega Cup and Handle formation could be indicating a big move to at least 2250 USD (with a few bumps in the road along the way). Plenty of FOMO news articles surfacing in the mainstream. Segwit as well.
Previous cup and handle projections extended further than the forecasted magnitude, however the target zone ended up as future support once the correction started....
On April 28, 2017, NVIDIA stock crossed below its 100 day moving average (DMA). Historically this has occurred 106 times and the stock drops a minimum of 0.327%. The median drop is 6.170% and maximum drop is 44.146% over the next 12 trading days.
When we take a look at other technical indicators, the relative strength index (RSI) is at 54.3666. RSI tends to...
The 100DMA is converging on the 200MA, RSI has been establishing a bullish support/resistance area and price is bottoming at support again.
Leaning long with a month long horizon, entry potential at $5, or on a 200DMA break up on volume
Breakout to the downside through a significant upward sloping trend line that has served as a support level since late summer 2015. Also, the pair carved through the 100 day moving average today which will serve as additional resistance on any pullbacks. Target is a little difficult to predict. It could be the November 2015 low of 0.6428, or the summer low 0.6424.
