This trade idea based on SMA 20 and SMA 50 and as the price also bounced from the uptrend line. There is also a possibility that we go back to 10k and even lower as on one day chart we're still in ABC phases.
i'ts easy to draw the Elliott wave. Here is my thoughts on bitcoin next movements by following the both EW steps wave 3 it's very important because the market here has done about 50% retracement from last ATH on 1 day chart with that been said, if the market keeps going up and following the white EW steps it means we are in strong uptrend but if it follows the...
RSI and MACD confirming downward movements. we are going down to the next supportline which in my opinion a good chance with a low risk for a neutral trade.
RSI reversal sell signal showed up on 1 hour chart. next support line 6200. it would be great if we touch 55-58 for another leg around 67-68 before we go down to 4900-5000 levels.
DMI about to confirm the buy signal, RSI following the upward movement. MACD crossed supporting upward movements, it's great time for Vertcoin to go where it supposed to be specially with the Bitcoin expected dip.
DMI looks strong bullish , RSI on reversal signal because it's near to the resistance line however it still looking up.
Market since 6k was the main traget all these supports levels are just entry points there is no major support to hold the price for long time except 4900-5000 levels, now is the time that almost everybody wants the price to dip hard again to buy and book the ticket to 10K levels. these are my thoughts coming from following the market and not the social media....
Good entry point between 66 - 74 targets are open first target 100+ I personally think $VTC has much more to go especially if it breaks 100-120 there will be nothing but an open target!