Finally after deep-corrections, we are in a position similar to early April. The entire May went red. Now we expect June to be green. The current BB is very tight and ready to explode. I am bullish and expecting a test of 7800-8200 critical zone. if that zone breaksout with a strong candle, I will anticipate a test of 10k and most likely a new lower high higher than Feb 11.7.
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Dear all, Just a quick update if you are anxiously waiting, BTC hasn't broken down & didn't break the important level to confirm a test below ~6800. Obviously, it is the first red day after 4-successive green days. 5H constantly presses Hidden Bullish Divergence, which is a follow-up of end-May Regular Bullish Divergence pattern. Should the price doesn't trade below the previous low (annotated on the DC: 7344.8 - 7279.6; You may also use BB as reference points but you won't be able to easily trace the previous low/highs), the up-trend has higher chances to continue. Contrarily, you can assume a re-test of the April/Feb Lows. The current low volume & low volatility can only print Highs/Lows that mostly equate to Daily ATR=337 (the max. daily profit on 1x lev). So far, I stay calm & abide by my view. I do expect a recovery in the next couple of https://days...nnnnnhttps://invst.ly/7n0f-.....GL with your positions. ShortNote
Here is my projected date & the consolidating triangle that we have been seeing. Details are on the chart. Note that we have been trading within the MA365-200 channel throughout the past two months which defines the broad range. The best news so far is 50/100 SMA cross....chart with https://annotation...nnnnhttps://invst.ly/7n0od... The big question will remain when will we expect the golden cross, where a mature guess comes in. It didn't take to long to see 50/100 day cross though! Just a thought... and good luck!Note
BTC once again got a bounce from the MA365 on daily with an engulfing pattern equating the daily ATR. Unfortunately, the pump was very low & suspicious. My recent idea on 5H setup has been confirmed (regular bullish div followed by hidden bullish div to continue up-trend while the DC: 7344.8 - 7279.6 didn't break) & the price should test highs. I locked some profits at 7650 and will continue take profits in reverse order until BTC tests Fib50%(recent H/L). Again, note that I am eyeing the next swing zone (limit June 23, 2018) based on my fib arc/time zone extension studies. Good luck!For now we may consider 7048 as a solid support & start counting the next impulsive wave (3) on daily while looking at volume based TIs. If the wave get a momentum, the b/o of 7778 with an extension (1.618) will take it straight to 8200 area. However, my main worry is the low volume & ATR / volatility & thus a re-test of 9990 sounds difficult but not impossible.
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invst.ly/7nf-lNote
Post yesterday's pump & two important spikes, the manipulation goes along and the price continues to recover from the deep on a neutral RSI=44 with some strong momentum on daily (STOCH=75; ADX=40; CCI=94; UO=54; FT=1.0). I consider MACD(-254) lagging thus it remains negative. With two important crosses [long term: MA50/MA100; Short term: DEMA(9,26)] and positive momentum (ChandeMo=44; MO=273), the price should test 7800-8200 zone.Order cancelled
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.