Looking at the possibilities with bitcoin, possible short
Taking a look at bitcoin, btc/usd:
Bearish:
Head and shoulders pattern which is bearish, the target for the drop is around 7k if we're looking at the difference between head and shoulder. We are around the neckline right now.
Besides that we're also seeing a bearish TK cross, the kijun-sen crosses the tenkan-sen in the cloud so it's a normal bearish signal.
Bullish:
Macd: macd line crosses over the signal line which is a bullish divergence
Rsi: RSI shows higher lows which is also a bullish divergence.
My gut tells me that btc is gonna rise till the 1th of January because of people talking about bitcoin profits during christmas which might cause more buys especially with the drop from the ATH. They'll think it might be cheap now. Then on 1/2 January a selloff happens so people don't have to pay taxes for 2017 but still wanna take profit. Well you should always trust your gut so I'm still bullish on bitcoin.
If you like my analysis consider following me on twitter: twitter.com/cryptoniter
Bearish:
Head and shoulders pattern which is bearish, the target for the drop is around 7k if we're looking at the difference between head and shoulder. We are around the neckline right now.
Besides that we're also seeing a bearish TK cross, the kijun-sen crosses the tenkan-sen in the cloud so it's a normal bearish signal.
Bullish:
Macd: macd line crosses over the signal line which is a bullish divergence
Rsi: RSI shows higher lows which is also a bullish divergence.
My gut tells me that btc is gonna rise till the 1th of January because of people talking about bitcoin profits during christmas which might cause more buys especially with the drop from the ATH. They'll think it might be cheap now. Then on 1/2 January a selloff happens so people don't have to pay taxes for 2017 but still wanna take profit. Well you should always trust your gut so I'm still bullish on bitcoin.
If you like my analysis consider following me on twitter: twitter.com/cryptoniter
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