BITCOIN

in #bitcoin6 years ago

Screen Shot 2018-09-25 at 5.44.42 pm.png
Thought the 6550 support would hold awhile after the breakout from mini triangle, follow by the mini down channel. Let see if the 6400 zone is strong enough to bounce off creating a higher low on the uptrend. On both 1h and 4h candles, RSI dip into oversold zone, likelihood to bounce a little. Can the pattern of the previous triangle breakout downside follow by a bounce and made higher high happen again ? Limited high, probably around 6850 zone (double top resistance level + big bearish long term channel top) Possible HS with neckline around 6200, possible test on support at 6200 zone follow by formation of right shoulder with resistance 6550.

Screen Shot 2018-09-25 at 5.43.02 pm.png

News: (Current) | (Upcoming) CBOE BITCOIN ETF, 7 Nov 2018 (may be extended again to 7 Feb or 7 Apr 2019)
| G20 FATF, Oct 2018
Short term moving average (day candle) : uptrend weakening
RSI : -
Network Value to Transactions Ratio : 180+
Bitfinex Margin Long/Short Volume Ratio : 0.918 (almost 1:1 ratio)
Depth Chart : (S) | (R) -
Weekly Timeframe : -

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