$BTC Short Term Analysis? Indicators Might Saying We Will BounceToday at the current level this chart analyzed, we see the same pattern this week mimicking last week pattern. If that happen again for the third time, then we might see a bounce for next week with retest around $6800 - $6900 zone. If it strong enough, then we might proceed to the resistance level.
From technical basis:
1. RSI level has shown that it trying to get back up from the recent low that break the normalize line. Right now it's on the 40 level which quite good for the upward signal.
2. My indicator showing a ParLE+2 on the recent dip, which might be a quite additional information that the dip is finally losing momentum and we're gaining strength to go upward.
3. The weakest support on the short-term ranging market still holding up around $6300 - $6400. We are hoping this is not a fake one.
Above all, we're still quite sitting in bear season, so adapt faster and trade safe!
Important dates for BTC:
28 SEPT - CME LAST TRADE
30 SEPT - SEC ETF DATE
17 OCT - CBOE XBT EXPIRATION DATE
26 OCT - CME LAST TRADE
14 NOV - CBOE XBT EXPIRATION DATE
30 NOV - CME LAST TRADE
19 DEC - CBOE XBT EXPIRATION DATE.
28 DEC - CME LAST TRADE
