BITCOIN GENERAL TREND ANALYSIS!
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The whole market has been on a drop lately which I think is going to be over soon and I have no idea based on what analysis some traders see a further drop...no idea...
From yesterday's chart, I predicted the price to drop further and find its support at 7300 USD price range which is what happened today the price dropped below 7400 USD to 7350 USD and we bounced back to 7500-7600 USD price range which is what I showed in yesterday's chart and which I have predicted in the chart called 'Bitcoin Goodbye Downtrend' which I named the 'First Scenario'. So the retracement is thus far over, and we should be looking for a green market from tomorrow.
The STOCH RSI is oversold and has been showing oversold for a decent period of time which is a very strong bullish signal
The MACD in general has two patterns where one is the MACD compression line(green line) and the MACD downward trend since we have hit 20k and in this trend lines, it has exited the downward trend and is looking to join the MACD Compression(green) trend again which is a bullish signal
Also we at a place where Bullish Divergence Line intersects with the Retracement trend and getting out of this trend by following the bounces from the Bullish Divergence line would leave no further Retracement/Correction trends behind which means we should see a big bull run as there are no patterns or waves which show a downward movement. SO THIS IS A FIGHT MOMENT FOR BITCOIN, it is literally DO OR DIE, as if we struggle to get out of this retracement wave and Bullish Divergence struggles to act as a support then yes we are going to see huge drop but there are no indicators or patterns showing a downward movement now so in my opinion we are exiting the Retracement Wave and there seems to be nothing to keep us from MOONING!
And we are literally in the BUY IN ZONE, so this is the time to buy and load up your Bitcoins and seeing a further drop at this stage would really be non-sense..
As I did not expect the drop in the crypto market to last long and moreover I believe after 06/06/18 the market should be looking on its way up and after a year we will remember 06/06/18 as a memorial day in the crypto market as after this date in my opinion we are going to see a very strong bull run.
Good Luck, Traders!
Ashanti!
From yesterday's chart, I predicted the price to drop further and find its support at 7300 USD price range which is what happened today the price dropped below 7400 USD to 7350 USD and we bounced back to 7500-7600 USD price range which is what I showed in yesterday's chart and which I have predicted in the chart called 'Bitcoin Goodbye Downtrend' which I named the 'First Scenario'. So the retracement is thus far over, and we should be looking for a green market from tomorrow.
The STOCH RSI is oversold and has been showing oversold for a decent period of time which is a very strong bullish signal
The MACD in general has two patterns where one is the MACD compression line(green line) and the MACD downward trend since we have hit 20k and in this trend lines, it has exited the downward trend and is looking to join the MACD Compression(green) trend again which is a bullish signal
Also we at a place where Bullish Divergence Line intersects with the Retracement trend and getting out of this trend by following the bounces from the Bullish Divergence line would leave no further Retracement/Correction trends behind which means we should see a big bull run as there are no patterns or waves which show a downward movement. SO THIS IS A FIGHT MOMENT FOR BITCOIN, it is literally DO OR DIE, as if we struggle to get out of this retracement wave and Bullish Divergence struggles to act as a support then yes we are going to see huge drop but there are no indicators or patterns showing a downward movement now so in my opinion we are exiting the Retracement Wave and there seems to be nothing to keep us from MOONING!
And we are literally in the BUY IN ZONE, so this is the time to buy and load up your Bitcoins and seeing a further drop at this stage would really be non-sense..
As I did not expect the drop in the crypto market to last long and moreover I believe after 06/06/18 the market should be looking on its way up and after a year we will remember 06/06/18 as a memorial day in the crypto market as after this date in my opinion we are going to see a very strong bull run.
Good Luck, Traders!
Ashanti!
Nota
Tried to get out of the retracement wave, tested and failed dropping down may drop down to buy zone however look at my new update on bitcoin!
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