Bitcoin dead cat bouning caused 487 point crash.. This was my today's article title on steemit...
I just warned against it , That bitcoin Ascending channel breaks anytime if this happens at 61.8% Fibonacci level then it will start again downfall..
An this was the Title of that article....
Caution!!! caution !!!Bitcoin Dead cat Bouncing ?? will like to fall again from $7509.6 level ??
Apart form that .... few bitcoins facts....
1. Bitcoin just making a ascending channel just when it will break will take downfall again...
2. RSI JUST NOW 64.43 WHEN EVER IT WILL BREAK ASCENDING CHANNELS OR HIT RSI 69 LEVEL OR 70 IT WILL MIGHT HAVE REVERSE BACK AS SHOWN IN EARLIER JULY TRADING SESSION.... SO BIT COIN IS AGAIN APPROACHING INTO SUPPLY ZONE.
3.On August series 19th of august MACD crossed and makes support from 6261$ level and bounce back this level and now trading around 7367$ level as of now writing this article.. shows it can turn anytime down side after reaching 7509 level
as it is already started less height of positive histogram and some weakness.
4.Although The 100DMA still supporting but when it will start downfall again it will act as resistance ....
CONCLUSION - ANALYZING ALL THESE TECHNICAL DAT WE CAN CONCLUDE THAT BITCOIN MIGHT BE PULBACK IF THIS ASCENDING CHANNEL BROKE OR TOUCH GOLDEN FIB LEVEL 61.8% I.E 7509.6$
THIS IS MY OWN TECHNICAL ANALYSIS DON'T trade before sure that you have made your own analysis to....
Please don't for get to share your valuable feedback and some facts that might have overlooked...
Here is the Link that was written.....
steemit.com
