BTC = When to Buy Back?
We can see price got rejected by the downward trend line. It was a good time to sell.
Now looking to buy back
Possible Buy Entry = 1
1. Expected to bounce off kumo cloud.
2. 0.5 - 0.618 Fib levels
Possible Buy Entry = 2
1. Expected to bounce off bottom kumo cloud.
2. 0.786 - 0.883 Fib levels
3. Trendline support
RSI = Bearish
Sqz Mom = Bearish but its weak.
Now looking to buy back
Possible Buy Entry = 1
1. Expected to bounce off kumo cloud.
2. 0.5 - 0.618 Fib levels
Possible Buy Entry = 2
1. Expected to bounce off bottom kumo cloud.
2. 0.786 - 0.883 Fib levels
3. Trendline support
RSI = Bearish
Sqz Mom = Bearish but its weak.
Note
As you can see BTC bounced on the 0.5 fib.
Yesterday's candle ended in Doji formation.
It signifies that sellers are exhausted now.
Fundamental = There is still fear in the market with the news coming from china about ban on exchanges and rumors floating around on ban on mining too.
Conclusion : Overall BTC does look bearish although its weak with sideways movements
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