Saturday 18th Jan Bitcoin Analysis
starting with the daily chart today this was where i left it in yesterdays video, bitcoin has now clearly broken the top of this bull flag, the MACD on the daily is high but not even close to previous highs so still plenty of space for growth, the RSI isnt yet oversold and im expecting to see it get very oversold
i think most...
With the 200 day moving average eight over our heads and a completed retracemnt from the previous high could we be about to see another sell off.
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Price is finding support at the confluence of Base channel (Blue) and 50% wave 3 retracement.
I'm looking for a W1+W2 candidate structure to 'step' out of the Deceleration channel (Red) before I open a long trade for the W5.
Too much up, now needs a bit of correction.
Last minor swing up retraced 100% thus now we're looking at forming a lower high and lower low at least in the LTF situation.
1.27 extension for a short at least.