Here is my update analysis on Bitcoin action.
I am on the daily chart. Take a look at these three items:
1) candle bars and price action and its interaction with MA21.
2) RSI
3) Stochastic RSI
I found a very similar pattern between what we are now and what we were
around 03 May 2019. Also, pay attention to two brown lines, everything is almost identical! How about the green lines in Stock RSI?
I think we either take off from now ($8800) or we might go down slightly (~ 3%) and get ready for a massive upward move. It could be a 25% to even 45% growth from $8800. But the 45% growth is VERY unlikely. But this is Bitcoin and does not give a sh**. Who knows!?
Anyway, my buy would be around $8750-$8800 and my first target would be around $10k and my second target would be $11.5k. I also, predicted the top $11.5k in this post (
)
Pay a careful attention to that gray fib circle! As mentioned before, that circle has played a very significant role historically and we saw massive drop as we approached that circle every single time! My guess is this uptrend would be the last one and we will go down after seeing $10k-11k (if we see it).
Finally, I would like to see lower volume in this move comparing what we had in the previous move, so the NVT get higher and higher and become ready to a massive drop.
Never forget to set your stop loss limit.
Good luck
I am on the daily chart. Take a look at these three items:
1) candle bars and price action and its interaction with MA21.
2) RSI
3) Stochastic RSI
I found a very similar pattern between what we are now and what we were
around 03 May 2019. Also, pay attention to two brown lines, everything is almost identical! How about the green lines in Stock RSI?
I think we either take off from now ($8800) or we might go down slightly (~ 3%) and get ready for a massive upward move. It could be a 25% to even 45% growth from $8800. But the 45% growth is VERY unlikely. But this is Bitcoin and does not give a sh**. Who knows!?
Anyway, my buy would be around $8750-$8800 and my first target would be around $10k and my second target would be $11.5k. I also, predicted the top $11.5k in this post (
Pay a careful attention to that gray fib circle! As mentioned before, that circle has played a very significant role historically and we saw massive drop as we approached that circle every single time! My guess is this uptrend would be the last one and we will go down after seeing $10k-11k (if we see it).
Finally, I would like to see lower volume in this move comparing what we had in the previous move, so the NVT get higher and higher and become ready to a massive drop.
Never forget to set your stop loss limit.
Good luck
