vanbored

vanbored Updated 

# Our previous idea suggests a possible breakdown to $7100, $6800, bull have managed to hold the fort so far, but for how long? weekend is closing down, which would suggests lower trading volume. # Main theme today is the shrinking Bollinger Band, which we could spots twice in previous local trade, once price goes down, once price goes up, third time? # All eyes...

vanbored

# Both Gann Square and Gann Fan were drawn from the high point of 26 June 2019 until recent low of 12 March 2020 selling fiasco. # Price currently located just above a 0.75 fibonacci, a possible upside movement would be to test 0.618 level which is around $8300 and a possible short-selling interest zone for institutional traders. The 0.618 level also close to a...

vanbored Updated 

# Take a look at Bollinger Band middle line (red line), price is at $7100, then take a look at 50 MA, price is at $6800, this is where the price could go back and retrace. Rising wedge and volume divergence could give seller a boost.

vanbored

# $7800 - $8000 is where the possible rejection could happen (strong resistance), institutional traders short-selling interest might kick in. # Breaking and staying above 50 MA is the next step before going toward $7800, $8000 resistance zone. # Volume is hopeless ever since the 12 March fiasco, the divergence is clear. A lot of BTC transfer activity on the...