This is an analysis only not a trading alert
Updated
As you know I am learning the technical analysis and will be great if you give me some feedback. What do you think?
So the 50 EMA shows me that we are in the downtrend still on the daily chart, but if you change the timeframe, you can see we have two 4hrs candles that closed above 50EMA.
The RSI shows me RSI price divergence and Bullish swing rejection and I predict that we are in the uptrend channel already, but until We haven't had any confirmation by the candle that closes above 50EMA on the daily chart it's not official (play safe) from my side.
You can see the uptrend channel and after the pullback, we are heading upper and upper. I drawn a support line as well on the RSI area from the Bullish swing rejection to make it clear that we have higher lows and higher highs. I made a circle around the pullback too. So If FB close above the 50EMA I would predict that the price is going up to the next Fib levels
FB: 188$,192$,201$
So the 50 EMA shows me that we are in the downtrend still on the daily chart, but if you change the timeframe, you can see we have two 4hrs candles that closed above 50EMA.
The RSI shows me RSI price divergence and Bullish swing rejection and I predict that we are in the uptrend channel already, but until We haven't had any confirmation by the candle that closes above 50EMA on the daily chart it's not official (play safe) from my side.
You can see the uptrend channel and after the pullback, we are heading upper and upper. I drawn a support line as well on the RSI area from the Bullish swing rejection to make it clear that we have higher lows and higher highs. I made a circle around the pullback too. So If FB close above the 50EMA I would predict that the price is going up to the next Fib levels
FB: 188$,192$,201$Note
So just a quick update on my FB chart analysis. Today the price tried to break the 174,6$/175$ level, but the bulls weren't strong enough, so we are still in the uptrend channel, but I guess tomorrow we will see some pullback to the FIB 0,382 - 0,5 level before we attack again the 174,6$/175$ level, on the RSI we still have a place to go (around until 60%). I decided to use SMA 10 and 20 for the daily chart and we can see that the shorter SMA crossed the longer above, that pretty bullish signal.
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