A bullish Alternative

29 мая 2018 г.

Dear Reader,

Herewith counter argument for a bullish move;

1. 'BTC' in the final wave of an ABC correction, presently completing a WAVE C diagonal.
2. DAILY Incicators: RSI close to 30; MACD printing divergence and a "W".

Three bullish exit points are marked with green arrows. The most likely being the 1.236 fib level, if we assume the descending diagonal and wave count to be valid.

Let's see what happens !

29 мая 2018 г.

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Let's see if BTC closes above the extreme of B (the diagonal). It would be significant.

29 мая 2018 г.

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Looking at the daily, I would have liked to see the bounce at a lower level. Right now, BTC runs the risk of a bull trap in the form of a dead cat bounce! We must proceed with caution.

29 мая 2018 г.

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29 мая 2018 г.

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It does look like a bull flag forming on the 5m chart ...

29 мая 2018 г.

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A valid bull run should look something like this ... We need a slow grind upwards (possibly another engulfing candle first).

29 мая 2018 г.

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The Hourly ...

Price has closed above the extreme of sub-wave B (green arrow) and we have something whist is starting to look like the grind upwards.

These are positive bullish signs .. hope the trend continues!

29 мая 2018 г.

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30 мая 2018 г.

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Impulse sequence looking good !

30 мая 2018 г.

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