BTC price broke Ichimoku cloud and exited at the bottom. Now it works as resistance.
The main T3 Moving average changes it’s direction.
Overal, bearish condition.
For now, I am waiting for minor pullback, before we reach new lower lows.
Long term – bullish .
Short term – bearish .
. BITSHARES/DOLLAR is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 27.
. While the RSI and the price downtrend in the Daily chart are not broken, bearish wave in price would continue.
. There is a possibility of temporary retracement to suggested support zone (0.1210 to 0.0438). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (0.1210)
Ending of entry zone (0.0438)
Signal to enter the market occurs when the price comes to “Buy zone” then forms one of the reversal patterns, whether “Bullish Engulfing”, “Hammer” or “Valley” in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
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I see little reason for Bitcoin to fall through this support as none of the past rallies did – I Think we can consider 5k as the bottom which lines up quite well with September/October which would allow consolidation for December run as always.
There are a few other charts i have and have reviewed that would line up with this – Lets hope so
Technical Analysis :
Pair in very strong resistance areas represented:
1. Historical Resistance The pair has been very strong and has fallen strongly represented by point C of the Saifir pattern
On the daily perm
2 – Strong Buy Boundaries Close to the top at resistance levels in Stochastic , RSI and CCI
3-opportunity to sell another list at the highest resistance 23.6 FIBO
4 – We note strongly and over more than two months falling price from the highest point of point C falling more than 400+
5 – The pair broke the rising trend and proved below it and did not retest if the pair rose again it is possible to re-test the broken bullish trend and complete the downward path
6 – Goals on the neighbor before you and possible in the case of stability below the resistance of the arrival of the husband to the support area mentioned before you at point D
7 – The areas that have been identified are not pending orders but areas can reach the price and then rebound and rises with the advent of signs of purchase, for example, vibrations or vibrations or Paris Action and …
8. The OB indicator shows you that the price reached the peak of the purchase and the large volumes of the purchase contracts and the decoupling of the price and led to strong selling
9-MACD in negative areas