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BTCUSD REBORN OF BEARS!Hi guys! Here is another quick analysis. So going back to a few days we had a nice gravestone doji/shooting star (on the daily chart ) showing that bulls were running out of power. Next day the red candle confirmed the trend reversal. We successfully broke the 10k psychological level. We also broke the 9.5k resistance which was a resistance before and after became a new support (purple line). Next support is the 0.786 fibbo at 9k. The 9k level also seems to be a good target for the elliot correction wave. After reaching 9k I do expect a little pull back to 9.5k and testing it as a new resistance. Closing below 9.5k today would be a great sign for trend continuation. My final target is still at 6.5k at the green bullish trendline . Please leave a comment if you have any question and leave a like if you found my post helpful! ***This is not a financial advice! I do not tell anyone to buy or sell bitcoin!***
BITFINEX:BTCUSDShort
by KryptonuQ
3
BTCUSD You See What I See? Hidden Bearish Divergence MACDIf you have look at the daily chart you can see a clear hidden bearish divergence which is a trend continuation sign (confirming that we are still going down). It also forming on the simple RSI too. On the MACD the lines arent crossed yet. We might move up to 9.5k and possible create a double top there then move down. Yes we broke the bearish trendline, but it is not as significant as the fact that we also broke the longterm bullish trendline. Target is still 5k as the fibonacci shows. Let the bulls to take their last breath and let's move down! ***It is NOT a financial advice. It is only my personal opinion*** Please leave a comment below and like it if you think it was helpful!
BITFINEX:BTCUSDShort
by KryptonuQ
7