Waves/BTC Daily Analysis - 1 February 2018
5 THINGS WHEN OBSERVING WAVES
1. The MA(50) has finally crossed above the MA(100) for the first time on 6 January 2018 since 12 August last year. This could mean the beginning of a midterm change in trend.
2. As for the shorter term, Bollinger Bands are flattening out. We're consolidating. It'd be good to see the price consolidating around the upper band, so it gathers enough upward momentum for a nice push up.
3. The price needs to break above the short term triangle, to signal upwards movement.
4. If it breaks below the triangle, we can find strong support on MA(100). Breaking below it will require extremely strong bearish action, as the price has tested MA(100) 3 times now and held on well.
5. If it does break below, we find support at 0.0000698, 0.0000653 and 0.000603 levels, before heading all the way down on the long term trend line support.
**This is just me learning stuff. Feel free to share your thoughts with me. I'd love to learn more.
1. The MA(50) has finally crossed above the MA(100) for the first time on 6 January 2018 since 12 August last year. This could mean the beginning of a midterm change in trend.
2. As for the shorter term, Bollinger Bands are flattening out. We're consolidating. It'd be good to see the price consolidating around the upper band, so it gathers enough upward momentum for a nice push up.
3. The price needs to break above the short term triangle, to signal upwards movement.
4. If it breaks below the triangle, we can find strong support on MA(100). Breaking below it will require extremely strong bearish action, as the price has tested MA(100) 3 times now and held on well.
5. If it does break below, we find support at 0.0000698, 0.0000653 and 0.000603 levels, before heading all the way down on the long term trend line support.
**This is just me learning stuff. Feel free to share your thoughts with me. I'd love to learn more.
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