BTCUSD - Continues to slide..What next? DAILY CHART ANALYSIS.
Updated
Everything is in the red right now and looking at the chart what do we see here.. is there any light at the end of the tunnel?
Big red cloud with price sitting below the cloud meaning bearish.
Take a look at the blue and brown lines and see how after the cross (TK cross) in the cloud (where indecision always occurs) on the 4th May 2018. Price fell and the lines of the cloud and brown and blue act as resistance.
Second TK cross at about 29 May 2018 below the cloud - in bearish territory - price continues to fall.
Ok thats great but whats happening in the future... lets look at a few indicators:
- The cloud is thinning out, maybe a twist coming, however still looks bearish for now
- Very Low RSI though
- StochRSI Crossover maybe incoming days
- Bounce off retracement line fib line
Light at the end of the tunnel... short termm maybe thinking about a swing trade setup here and bounce off Fib traceline. still seems like indecision in the market at the moment and ichimoku sugguests sitting tight till we see a signal.
Maybe other alt coin projects to look into at wholesale prices now. what do you think? Still believe institutional money will flow in just when we havent reached bottom yet.
*These are only my thoughts and not treated as trading advice*
Cheers
Big red cloud with price sitting below the cloud meaning bearish.
Take a look at the blue and brown lines and see how after the cross (TK cross) in the cloud (where indecision always occurs) on the 4th May 2018. Price fell and the lines of the cloud and brown and blue act as resistance.
Second TK cross at about 29 May 2018 below the cloud - in bearish territory - price continues to fall.
Ok thats great but whats happening in the future... lets look at a few indicators:
- The cloud is thinning out, maybe a twist coming, however still looks bearish for now
- Very Low RSI though
- StochRSI Crossover maybe incoming days
- Bounce off retracement line fib line
Light at the end of the tunnel... short termm maybe thinking about a swing trade setup here and bounce off Fib traceline. still seems like indecision in the market at the moment and ichimoku sugguests sitting tight till we see a signal.
Maybe other alt coin projects to look into at wholesale prices now. what do you think? Still believe institutional money will flow in just when we havent reached bottom yet.
*These are only my thoughts and not treated as trading advice*
Cheers
Note
The first paragraph should have read.. the lines acted as support which price fell through.*Quick update: super low RSI and continued good to fall to our retracement lines... Will we see a bounce off here?
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