BTC is going for a deep low but may be forming a double bottom. It's going really fast.
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If we focus we can see that price is not aligned with RSI. Price is moving slower than RSI.
If RSI stretches and price is supported we may see a nice come back from that low.
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Anyway, I am not a trader and these are only my personal ideas. A double bottom there and at the end of the month would be like a very important statement for me from BTC. I double bottom in such a low position? What could it mean? I am dreaming again...sorryNota
Bullish flag will be then completed.Nota
In a month made the bubble (dicember) in a month it retraces it (january). Sounds nice. February?Nota
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This is last week of the month. Perfect time and setting. lolNota
But if I look at the weekly chart I am brought back to reality Nota
But today is only monday! Yes, and that weekly candlestick may complete a three black craws formation by the way its moving.Nota
Let's wait and seeNota
I forgot. In March a lot of deadline of crypto projects are due to be annuonced. It will be a good indicator to see how this new industry is developing.Nota
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BTC is really stretching towards that lower low. I didn't put an arrow on it but is at 9259 more or lessNota
It come back above 10.500 which is a bullish signNota
I don't think it will end the correction there but let's see. To go there it means that should go to 11K which would be a very bullish signNota
But still has not completed the neckline therefore need to be patient.Nota
The neckline is that lower low that may be hit if BTC insist going downNota
I can see a very nice come back from that lower low if it will ever reach it. lolNota
If this is an industry in expansion a double bottom there would be a nice fundament from where to start. Don't know.Nota
Let's see and be patient.Nota
Thank you AlanMaster. From you it's an honour. Much appreciated for taking the time to look at it. ThanxNota
Ok. It has completed that small correction and resumed its run towards lower lows. Let's see how it moves.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.