Case study 12 the 20k or 25k level will we see it
Well guys it's time to keep your eyes wide open.
I'm sure everyone knows the level we are at is key.
What key question pops into my head right now is.
Do we look for a buy at 30k or do we wait for the break to 25k or 20k.
If we look at the basic rules first
Is bitcoin over extended no.
Was it over extended yes.
What happened under 30 on the rsi
A pinbar was formed a buy signal that must be watched with great attention on the 4h time frame.
This pinbar is important because it is confirming a support area with a few other buy signals creating a area of confluence for a buy.
THE problem the bears are facing with this buy signal is all indicators even the rsi at this point is bearish on the 4h time frame.
Candles tend to provide signals before the actual reversal is confirmed by the indicators or oscillators.
But if we look at the indicators
ADX is heavy bearish above 30
The rsi turn at 50
The ichimoku is also bearish
We also see that the 50 moving average is under the cloud with the kensan kunjin
It kinda indicate a confluence of signals for more downswing to come.
We might see a rally to 36k if we don't break below the pinbar.
If so we will see the H&S on the daily confirm
And the final wave of Elliot wave on the daily move to completion
And the daily bearish flag comfirm
The Bollinger band compression on the daily also comfirm direction
The death cross
The monthly evening star is still looming over our heads.
THE bottom of the monthly Bollinger has not been touch it also confirms the 20k level with the daily support at 20k.
THE possible bearish flag pole length puts bt. At 16k
Over all there is alot of info pointing down.
But even with all showing strong selling power we have to keep our eye on any buy signal that appears and see if there is changes in time frames from 5min to 4h for a build up of buying power.
THE cod report indicate that from last week the overall selling has increased by a 1000 from last weeks 1000
So the bulls are down once again.
PEOPLE THIS IS A TIME TO KEEP YOUR EYES ON THE COIN
TRADE SAVE GUYS.
SO GUYS IF MY ANALYSIS HAS HELPED YOU PLEASE LET ME KNOW BY DROPING A COMMENT OR LIKE
I'm sure everyone knows the level we are at is key.
What key question pops into my head right now is.
Do we look for a buy at 30k or do we wait for the break to 25k or 20k.
If we look at the basic rules first
Is bitcoin over extended no.
Was it over extended yes.
What happened under 30 on the rsi
A pinbar was formed a buy signal that must be watched with great attention on the 4h time frame.
This pinbar is important because it is confirming a support area with a few other buy signals creating a area of confluence for a buy.
THE problem the bears are facing with this buy signal is all indicators even the rsi at this point is bearish on the 4h time frame.
Candles tend to provide signals before the actual reversal is confirmed by the indicators or oscillators.
But if we look at the indicators
ADX is heavy bearish above 30
The rsi turn at 50
The ichimoku is also bearish
We also see that the 50 moving average is under the cloud with the kensan kunjin
It kinda indicate a confluence of signals for more downswing to come.
We might see a rally to 36k if we don't break below the pinbar.
If so we will see the H&S on the daily confirm
And the final wave of Elliot wave on the daily move to completion
And the daily bearish flag comfirm
The Bollinger band compression on the daily also comfirm direction
The death cross
The monthly evening star is still looming over our heads.
THE bottom of the monthly Bollinger has not been touch it also confirms the 20k level with the daily support at 20k.
THE possible bearish flag pole length puts bt. At 16k
Over all there is alot of info pointing down.
But even with all showing strong selling power we have to keep our eye on any buy signal that appears and see if there is changes in time frames from 5min to 4h for a build up of buying power.
THE cod report indicate that from last week the overall selling has increased by a 1000 from last weeks 1000
So the bulls are down once again.
PEOPLE THIS IS A TIME TO KEEP YOUR EYES ON THE COIN
TRADE SAVE GUYS.
SO GUYS IF MY ANALYSIS HAS HELPED YOU PLEASE LET ME KNOW BY DROPING A COMMENT OR LIKE
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.