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BTCUSD1W

The end of the bear market doesn't seem close! - BTC update!Zoom out and you will see that we are too far from an end, end of the bear market! All three Bollinger bands are pointing down creating downward momentum. We have now attempt on daily time frame to close above top Bollinger band that would invalidate this downward momentum that is active on weekly time frame but we got rejected 3 days in a row from top Bollinger band! RSI is not even close to oversold area! For healthy uptrend, RSI has to test oversold area on weekly time! After potential rejection from oversold area, we may finally start to think about end of the bear market and the beginning of big bull market! Best regards!
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by CryptoAims
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BITCOIN !O.O! FINALLY THE 11 MONTH OF WAIT CHOSE THE DIRECTION finally the btc chosen its direction , the reasons are below 1. we closed the monthly candle below the 20MA line(blue) which happened last in 2014 , we retested it near 6600 to confirmed it as resistance and broke below 2.we had a death cross of 21ema(orange) with 55ema line (yellow) , last time happened in 2014 , we restested the 55 ema and we crashed down hard in 2014 ,,,, same happened this time we had death cross then retested the 55 ema with that tether manipulation pump and now crashing down 3. 21 ema (orange) line was holding us for 11 months but the bounces from 6k was getting only weaker and weaker ,, with the 10ma (blue) line turning down so hard which is so much bearish 4. people were calling this as a falling wedge but , look at the volume character sticks , sell volume has always been higher than buy , so obviously its not a falling wedge 5. death crossed totally on the major moving averages ,, what does that show ? simply the down momentum is way too strong 6. we were creating the series of lower highs with so less conviction 7. 6k only produced lower highs which meant it was getting weaker and weaker summing up the things , we almost lost the upside momentum since past month , whats coming next ? ill update below
BITSTAMP:BTCUSD
by ViperTron