BTC Realtime Analyse #12Hello my dear friends,
I'm back again and here i am with BTC Realtime #12.As i said in last BTC Realtime, i needed a short trip to rest well and come back stronger and fresh again.So excuse me for a last week and let's see what happened during a week that we hadn't BTC Realtime.
First of all i need to remember you few things that i mentioned in BTC Realtime #10.
As i said there,BTC started to form a broadening wedge after dropped from around 8500.I said in my BTC last time that we have a repetitive pattern for BTC movements after Bear market started in JAN.With logic of that pattern BTC need to move itself above black dotted line in chart and make a new low in Sep 18th,and the broadening wedge will help it to buy more time and power to move itself above that dotted line.Now as you see in chart BTC achieved this goal and all things are walk in plan plus many more signs that produced by last 2 week movements that i will say all here.Now look at chart in a zoomed out view to see where we are now.
I said we produced more signs and patterns in chart in last 2 weeks ,they are bearish and bullish,somehow we have a mix situation again.So let's see talk about them.
As i draw in this topic main chart we made a Bearish wedge in last weeks,i draw it with blue line in my main chart.All of you knows that in last weeks BTC tried too much to make a reversal patterns like iH&S but it failed and failed and failed again and finally form a bearish wedge and a bear flag for us.In first look at chart we see this patterns and signs but if we look better we can find more stuff there.
First we test our last lows again and immediately bounce back after that,second we made a short term support above our lows and test it for several times(you can see it in chart,yellow boxes) and third one is that we are in fight to break resistance instead holding a support,now and it say to us that Bulls are in charge with this fight,temporary.
But we have a important pattern in chart too,look at chart bellow:
Yeah, another reversal pattern, a bigger iH&S.As you saw in chart formation of this pattern complete and we have an almost fit volume with it too but in our first attempt to launch this pattern we failed and we are about to test neckline again.As you see our neckline is exactly EMA200 in 4H now and that is a huge resistance for BTC,somehow we are using EMA50 as a support now and breaking EMA200 will prove many things and will make a huge success for BTC.Remember that EMA50 closing ton EMA200 and we will have a Golden Cross with next BTC's bounce too.
All of these fact plus one another important one that i show you in chart bellow:
Yeah we are above ichimoku cloud in 4H,too.All of these helped BTC to make good Strength and passion for next run.So,Bulls team have much points to win ,too.Like i said we have mixed situation again,so let's see what we have in indicators:
RSI not much say lot things to us,first of as all we said in last weeks we didn't make a new low in RSI but as you see we are close to overbought zone without achieve important success,it say to me that we will recover it soon again.But what is important is that how much we want to recover it.If our RSI recovery end above dotted line,i will not be very painful but if we break that it mean that our bearish wedge in chart is working and we are about to test lower supports again.
Look at these similarities in chart above,somehow RSI is in Bears team,in my opinion.
In MACD 4H we are close to make bullish cross over and in 1D we have it and we are in bullish side of it.
In this situation can't be sure about anything,we have not proper volume and we have manipulators that love to play with this volume situation,anything can happen and somehow we have prove for anything too.So need to wait and see.I draw a RED and BLUE arrow in my main chart,if BTC decide to move,our next stop will be one of these arrows.
I will update this episode of weakly BTC Realtime idea as soon as i find a new sign in chart,like always.
Again thanks all of you for your supports and messages to me during last week,you really made me happy with those kind and friendly comments,i missed all of you.
Please like my work if you like it and leave me a comment to know what you think.It really make me fresh and happy.
Good Luck
Peyman A
