BTCUSD is currently in a decisive moment. RSI is pointing bullish tendencies, since we can perceive higher lows. The price action is looking like a bearishflag and the momentum for BTCUSD isn't good since traders are suffering from FUD yet, since last dips. In the short term we can watch another low reaching U$ 8500 and testing this support. In medium/long term,...
In Wyckoff Analysis, four main phases occur during the trading cycle: accumulation, markup, distribution and markdown. Accumulation phase is when smart money enters on a long position, when general public is not interested. Markup phase is when parabolic movements start, driving media and public attentions, when entusiasm and FOMO make their victims. Distribution...
BTC USD just crossed back the 38% fibonacci retracement level, which may act like a good support. EMA 41 is above EMA 82, which is signaling an up trend. Uptrend line have been traced at the 30 min period chart. I would consider a stop loss just below the 38% fib level and U$ 9000 as target.