BitcoinLong
This Is Not The Crash You Were Looking For. Oversold!
Sorry but I'm just not convinced that this is the crash so many are looking for. But in all fairness my last chart did say we needed to close above 7550 for a continuation, and it did not...so we did correct....however....
Once again, the 50 MA is angling up. This means the trend is intact.
We bounced off of $7000 or thereabouts and held which was also a major fib area of support. If we had closed below 6800 I might be thinking differently.
Stochastic is showing oversold and about to turn up.
9, 12 and 15 MA's don't have a crossover and are still indicating an upward trend thus still good.
NO Parabolic SAR reversal.
We were overbought on the Bollinger Bands, so we had to correct a bit since we were outside of them for several candles. This small drop just brings us back into realignment.
Green Arrow Under Candle Indicates Oversold. We Will Reverse.
There's some weakness in the MACD histogram and green/red lines, but it's not catastrophic.
We probably got overbought because of the Chicago Futures News and the Segwit Fork. I expect that after the Fork, we'll go to $8000-10,000 by year end.
HODLING!
Once again, the 50 MA is angling up. This means the trend is intact.
We bounced off of $7000 or thereabouts and held which was also a major fib area of support. If we had closed below 6800 I might be thinking differently.
Stochastic is showing oversold and about to turn up.
9, 12 and 15 MA's don't have a crossover and are still indicating an upward trend thus still good.
NO Parabolic SAR reversal.
We were overbought on the Bollinger Bands, so we had to correct a bit since we were outside of them for several candles. This small drop just brings us back into realignment.
Green Arrow Under Candle Indicates Oversold. We Will Reverse.
There's some weakness in the MACD histogram and green/red lines, but it's not catastrophic.
We probably got overbought because of the Chicago Futures News and the Segwit Fork. I expect that after the Fork, we'll go to $8000-10,000 by year end.
HODLING!
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