It is still bullish if it can hold above the dotted line
Again Higher High in Price and Lower High in MFI Clear Sign of at least a Pullback or Reversal to Lower Red, StochRSI is Overbought and Price is at Important Cross of Two Significant Lines.
Head and Shoulder Formed in MFI Which Signals Moving Down, it Also Shows a Bearish Divergence, and The Last It was at This Level was the Previous ATH. MACD is About to Cross Down. While I Remain Bullish in Longterm as Always, I'm Bearish for Now Because if it Wants to go Higher from Here it has to Gain Momentum Which Obviously Doesn't Have it for Now
Bearish Divergences Are All Over the Place, and My Guess is Going Downward Unfortunately
Bitcoin is Due for at Least a Retrace Based on Visible Bearish Divergence in Daily MFI, Also The Breakout of This MFI will be Interesting :)
Unbelievable but It seems we are really going for ~120 to re-test the broken downtrend before going up again.
The recent price action wasn't bitcoin getting weak, it was because of strong dollar www.reuters.com also, as the Anti-Btc BearGod himself always says "even if price goes to 2880 it's ranging flat in the always-bear market" the same also applies to downward moves for bulls i guess
Does the Current Monthly Candle will be Closed as a Bullish Hammer? if so, an Outcome like it's Ancestor Back in July 2013 is Expected, Also Notice the Decreasing Volume in Recent Bearish Candles
Either Current Point is the Bottom for Bitstamp or it Will be at SMA(200) Around 460-480 Which is Not Far. It May Be the Current Point Because of Double Bottom Shown by Red Arrows and Possible Cross of MACD in Addition to Visible Bullish Divergences, but if it's not, It Will be Found Around SMA(200) or in Worst Case Scenario Around 420 Which is a Very Powerful...
Two Possibilities at this point, First. Upward Breakout from Current Point which is more Likely Considering Divergences And Crossings in CCI and MACD While Being Oversold in Oscillators in 4H Second. Downward Breakout from Current Point which will Worsen then Divergences Against Bearish Continuation Even More While Getting Oversold in More Timeframes I Don't know...
Price is Touching Lower Trend Line of Weekly Channel which has been Formed from 260$ and Established by Successfully Holding After Correction from 1200$. The Line is Being put to yet Another Test which is Going to Hold and Bounce the Price Back Up IMO. StochRSI is Oversold And the Volume of this Downward Movement is Low (Comparing to Previous Drops) and Resistance...
Recent News Caused Price to Fall into the Dreadful Triangle Again, but Price has bounced off against one of the Primary Uptrend Lines and I Expect it to Go Above the Triangle Again, Failing to do that And Price can go to as low as 800
As you Can See There is a Significant Bullish Divergence in Daily Timeframe Visible on MACD and MACD is Crossing Up Too, i Think One More Day and Uptrend Will Begin
As You Can See, We are Still Within Yet Another Ascending Triangle, There are 2 Possibilities from Here First. Breaking Level of 960-980 and Move to Max of 1020 Which is More Probable in My Opinion (Because of Crossing Moving Averages, MACD Signal Lines,Stoch and StochRSI on Higher Timeframes) Second. Going Back Down to 920 and Breaking Upward from Triangle from...
I think Current Point is the Bouncing Point to 920 and Above the Downward Movement is Losing Power Visible in MACD