Bull market variant

11 ago 2020

If we consider that we are in a bull market after a 2.5-year bear market, BTC must not fall below the Invalidation level of wave II (8830 USD). Ideally, we should not fall below $ 10,500. If they do not maintain this Invalidation level, then we are not yet in a long-term uptrend. If we maintain the invalidation level, we can grow to 24160 USD (wave III), 44284 USD (wave V (I)).

4 set 2020

Nota

On the chart we can see the break down of the black trend line and testing as resistance. However, this does not mean that we are in a downtrend. Below us are many strong supports. We have WMA 21, WMA 77, WMA 50, DMA 200, CME Futures GAP, which we got into today by the shadow of a candle. If we hold $ 8,830, we are still bullish.

7 set 2020

Nota

We can see in the chart that we are approaching WMA 21. At CME Futures, we partially filled the GAP from the end of July. We also see bullish divergence on RSI. Now I expect a retracement at 11300. The trend lines come out differently because I have currently chosen a linear graph. On higher time frames, I use mostly logarithmic.

9 set 2020

Nota

I must point this out. Note the red values on RSI 53.54. the green and red arrows show the up and down breaks of the WMA21. If we are above RSI 53.54, we can talk about the bullmarket. If we are below, we can talk about bearmarket. Notice where we are currently. We tested WMA 21 and RSI holds the red line. This is a good buying opportunity with a stop under WMA 21.