With MACD and RSI in over bought zone a dump is immanent.. If the pattern from previous cycle repeats and conservatively say that dump is going to replicate the previous one.. we can see a 5k range as a target.. Both trends are in the same resistance zone.. and i am looking for a good correction in price first before positioning myself.. over extended green...
I called it back in october that on the 15th or 2nd week of december BTC should be in the range of 6500.. not bad.. but now with the bear market we might see a even possible drop to the 6000.. accumulate guys incrementally as the price go low.. dont one time big chunk buy positions.. so the price wont help spike the price up..
I am still strongly thinking based on the charts and trend lines that we should be hitting 6500.. if we dont before the 15th then am very close..
We could see the absolute bottom for the BTC down trend.. the daily showing still a sell off power.. and if we go out to the weekly we can see that MACD heading down with red big bars still on-going.. I think alot of the people who missed out on accumulating are looking forward for that price range to re-enter the market and a build a position.. once (on the...
The pull back is in favor to the bears and the pull back to the 6500 range is plausible.. would the December 15 be the day we hit bottom and start the upper trend
I see that thru the hourly signal (short term) that we are in a bearish signal movement.. and with a falling flag formation we will be dropping down to the 8800 mark in price..
I see that the long term trend (purple lines) hesding down on the long term.. coupled with the yellow long term trend line.. Medium term is upper green line wedged with the lower purple line.. Short term is bounded by the green lines.. Purple solid line is a hourly testing trend line and is changeable on demand... MACD, STOCH RSI and Volume are the...