Rsi 92,
Fibo 0.5 resistance,
Daily Smma 200,
Gonna be very tough to break through, but:
Retracement or false breakout?
This is the exact area of the current structure where you absolutely do not want to trade, but want to study the market behaviour.
2015:
Weekly Smma 50 is as well here, and a weekly high Rsi is as well here. Ok, this is just Rsi, but still i would say.
Fibo 0.5 resistance,
Daily Smma 200,
Gonna be very tough to break through, but:
Retracement or false breakout?
This is the exact area of the current structure where you absolutely do not want to trade, but want to study the market behaviour.
2015:
Weekly Smma 50 is as well here, and a weekly high Rsi is as well here. Ok, this is just Rsi, but still i would say.
Note
Bitcoin is much more bullish than it should be after it hit the Smma 200 for the first time some days ago.
Instead of retracing importantly, it slightly retraced and even consolidated right below the Fibonacci level, and right below the Smma.
Very interesting, i would not be surprised if it breaks through to hit the next Fibonacci level around the 5800$
Note
"An area you absolutely do not want to trade" -unless you are a 10+ years ballsy traderLeft : Fakeout of the daily 200 Smma with a possible bearish engulfing candle (day isn't over)
Right: Possible weekly reversal candle (week is not over)
Possible ideal area for the come back of bears, warning
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Disclaimer
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.