2018-6-18 BTC LONG (mid term) Have BTC found the BOTTOM?
Hey guys, I'm here to make an update of my last idea. Let's take a look and understand
what happened in this past 5 days.
The RSI that I mentioned was oversold exited the oversold zone as expected, than it
made a retracement and failed achieving a lower low: this is bullish and a possible
bullish reversal signal. The bearish trend I mentioned on the RSI just got broken, but
it's still no valid because it can go back below the line, let's keep watching. If it
confirms the breakout and fail going back below, that will be another bullish trend
reversal signal!
The bearish trend on price action is still far, so price may move upward without
finding this trend's resistance. As you can see, the dotted line now looks like a good
support from now. We may see price going back to this line and test it again before
going after the current downtrend resistance (red line).
The increasing volume I mentioned in last update couldn't be seen on the last 3 days
(but 2 of them were weekend days). Today's volume is already touching current
volume average, we will probably surpass it very well. So increasing volume maybe is
getting confirmed. Let's keep watching.
The parabolic short's increase has stopped for now. If price fail breaking 6.8k
resistance, we may see a pretty bear trap! Keep watching.
Most important: Did you notice how bearish top twitter accounts were these days?
It's just unbelievable! People just don't learn! BTC stayed 4 days in a really
important support and people kept calling 5k! Of course this support may be broken in
the future, but if price action isn't showing price is going down, why don't betting up?
The market game here is making fool of people and taking money out of fools.
Don't let the market make fool of you. Do your own fucking research and understand
what's happening. Once you understand it, act accordingly. Don't let greed and fear
control your orders.
This is an update from my last idea:
what happened in this past 5 days.
The RSI that I mentioned was oversold exited the oversold zone as expected, than it
made a retracement and failed achieving a lower low: this is bullish and a possible
bullish reversal signal. The bearish trend I mentioned on the RSI just got broken, but
it's still no valid because it can go back below the line, let's keep watching. If it
confirms the breakout and fail going back below, that will be another bullish trend
reversal signal!
The bearish trend on price action is still far, so price may move upward without
finding this trend's resistance. As you can see, the dotted line now looks like a good
support from now. We may see price going back to this line and test it again before
going after the current downtrend resistance (red line).
The increasing volume I mentioned in last update couldn't be seen on the last 3 days
(but 2 of them were weekend days). Today's volume is already touching current
volume average, we will probably surpass it very well. So increasing volume maybe is
getting confirmed. Let's keep watching.
The parabolic short's increase has stopped for now. If price fail breaking 6.8k
resistance, we may see a pretty bear trap! Keep watching.
Most important: Did you notice how bearish top twitter accounts were these days?
It's just unbelievable! People just don't learn! BTC stayed 4 days in a really
important support and people kept calling 5k! Of course this support may be broken in
the future, but if price action isn't showing price is going down, why don't betting up?
The market game here is making fool of people and taking money out of fools.
Don't let the market make fool of you. Do your own fucking research and understand
what's happening. Once you understand it, act accordingly. Don't let greed and fear
control your orders.
This is an update from my last idea:
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