Is Bitcoin secretly bullish?
Updated
Noticing a possible pattern here in the RSI.
Though this is a smaller time frame, it is showing that these sudden moves are beginning to lose a lot of strength.
The ones we gotta worry about now are the ones that span across multiple time frames.
Currently we are showing hidden bullish divergence in all time frames, which can only be invalidated by a lower low below $3,120.
Lower time frames are bullishly diverging.
A lot of bullish signals, and a lot of bearish signals.
On the weekly chart, Bitcoin closed bearish engulfing which signals we likely have further downside coming.
Prior to that downside however, I think we *could* get a good bounce first.
My main reason for believing this, is that this is *technically* the first time we've touched the .618.
Depending on where price action takes us from here, we could go very bull or very bear.
I don't think we will be ranging much longer.
S+R levels all marked on the chart.
Bull above $3,600, bear below $3,360.
Where do YOU think Bitcoin will go short term!?
Though this is a smaller time frame, it is showing that these sudden moves are beginning to lose a lot of strength.
The ones we gotta worry about now are the ones that span across multiple time frames.
Currently we are showing hidden bullish divergence in all time frames, which can only be invalidated by a lower low below $3,120.
Lower time frames are bullishly diverging.
A lot of bullish signals, and a lot of bearish signals.
On the weekly chart, Bitcoin closed bearish engulfing which signals we likely have further downside coming.
Prior to that downside however, I think we *could* get a good bounce first.
My main reason for believing this, is that this is *technically* the first time we've touched the .618.
Depending on where price action takes us from here, we could go very bull or very bear.
I don't think we will be ranging much longer.
S+R levels all marked on the chart.
Bull above $3,600, bear below $3,360.
Where do YOU think Bitcoin will go short term!?
Trade active
Note
If Bitcoin fails to hold the .618, this will be my next setup:Note
Check out my trade on METALBTC.This could be a straight up SLEEPER.
Trade active
S/L Moved to entry point for a free trade. :DNote
If Bitcoin can climb back up above $3,800 we would be setting up a very bullish bias for Q1 2019.If this 5d MACD crosses the FOMO will be reaaaaaaaal
Trade closed: stop reached
xD
Moved stop to entry, got stopped out by 40 cents.
God I love Crypto LMFAO
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