An inverted head and should pattern is being formed while right shoulder still in play. If it forms out well the we can expect healthy retracement upto 6300-6200 levels and then if the Neckline holds then we expect a Bullish sentiment.
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast resumption of uptrend.
Technical analysis:
. The RSI bounced from the support #1 at 26 and it prevented the price from more losses.
. The RSI downtrend #2 is broken, so the probability of resumption of uptrend is increased.
. Price is below WEMA21, if price...
New trading suggestion:
*The price is in a downtrend and we forecast the downtrend would continue.
*There is still a possibility of temporary retracement to suggested resistance line(0.6820). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Entry signal:
Signal to enter the market occurs when the price comes to ...
The rate once went back through the double zero 6000.0.
Currently it is a situation to receive resistance at around MPP (S1) 6353.9.
Judging that it is a down trend, if you apply the set sequence, I'd like to have a short position well.
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1) Resistance MPP (S1) was judged to work.
Short entry. The limit is above double zero 6000.0.
Or if you assume double...
Hello Friends I am new In Analysis and Keep Learning And Today im confused In This Chart Can anyone tell me This IS Downtrend Line Or Not?
I Think Bullish divergence Is Right But Not Sure about Trend Line
Please give me your valuable time to explain me
Thank you
Same Channel Repeating bitcoin Tesitng 6000$ support as i said in my last post about this condition there is bounce chance are higher near to 6300 6600 6800$
Logicaly bitcoin in side ways from last one week but now suddenly 300$ dumped in few hours a go,Bitcoin is testing now new support level chance to go again 6800$ otherwise the testing is fail then we can see small more deep near to 6000$ in bitcoin
- RSI still way below 35 on 1D chart.
- There is no way it is going down further unless RSI picks up significantly. This is the BOTTOM.
Next few days/weeks BTC will rally upwards for a new "lower HIGH" before coming down.
The volume is low because it will be a lower HIGH and the bulls are still not confident of breaking towards a higher HIGH.
Lower High...
Looks like a falling wedge may be in play while we are also way over sold rsi on the daily (bullish div on hourly), BTC might do something here.
Keep your eyes on it
11.6% gain potential
1.14% loss potential, SET STOPLOSS in case we continue to dump.
