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Rallynotthistime

BTC – not time to bounce up. Be patient!Hi Guys. As we predicted in our analysis 0.85 Magic Ratio we kissed $8500 and we observe correction now. We also think we won’t go below $5800. This is massive support and you will find why in our fundamental analysis from couple of months – “ BTC – We are safe – we won’t go below $5800” So the only solution is to wait. It can take time. We hope that finally at least one company will be approved by SEC to run legally ETFs on BTC. This info can come up in the middle of August. If this happen it should be an impulse for BTC rally and real bounce up. So looking back at the chart. We are far below EMA100 (D) and Tenkasen. Actually we approached the cloud which is another bearish signal. Safe trade is when we cross EMA100 and Tenkansen and even better once Tenkansen crosses KijunSen above the cloud. As cryptocurrencies are highly volatile we use chart crossing the TenkanSen. It works really good and many people from Asia use this indicator to trade. Actually it comes from Asia that is why it is so popular there. In our opinion levels to break are at $7400 - $8200 depending on when it will happen. Another technical analysis indicators: MACD – bearish cross Weis waves – growing supply and no demand so far Sentiment Zone Oscillator - we expect couple of lows here - observe crossing orange line and higher lows So guys – observe the bottom first – max min should be at around $5800. Then we expect bounce up towards $7400 and $8200 level. It all depends on investors’ mood and legislation progress worldwide. What do you think guys? Will we touch $5800? What are your feelings regarding legislation works? Once again thank you for being here. Thank you for all likes, comments. You are really great community. HUGE Hugs! WBM Team
BITFINEX:BTCUSD
by WBM_Team
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