Bitcoin: Nice attacks from Bulls but Bears resisting
Bitcoin: If you followed my presious chronicles here is where we are. Be carefull and alert. We may have see the bottom signifying the end of a correcting cycle but doesn't mean it cannot be retested if bears manage to hammer bulls down from next high. Or maybe that resistence is already the next high. I don't know.
Komen:
Komen:
RSI look already gone
Komen:
Hope that upper channel support
Komen:
There is a lot of congestion just below that resistence
Komen:
Always be aware in which timefrime price provide signals. It's important to get the timing right for understanding when you will have to pull the trigger. lol
Komen:
Komen:
5min divergence with RSI when approaching that resistence
Komen:
May go for the lower band of the upper channel from that high
Komen:
After the divergence it is looking for support
Komen:
10.200 looks supported
Komen:
Let's wait and see. Be patient
Komen:
Komen:
Komen:
Just be carefull
Komen:
Komen:
RSI is shooting and price is not following stopped by that resistence
Komen:
It may present us a nice scenario but we need to wait and be alert.
Komen:
Let's look at the 15min chart...
Komen:
Same as before...the attack is still ongoing
Komen:
Komen:
Komen:
Komen:
look at RSI
Komen:
may that be a support for a little push? I don't know
Komen:
Komen:
the 11.400 strong resistence is very close
Komen:
Komen:
RSI is not high enaugh yet
Komen:
Where are the volumes?
Komen:
Pushed back
Komen:
Let's see if supported somewhere
Komen:
Komen:
It's preparing it's next move
Komen:
Let's look where we are in the 30min chart
Komen:
Komen:
1min chart volume increasing
Komen:
be patient
Komen:
Let's see 30 min chart
Komen:
Are those volumes enough to make it go higher for a little bit? I don't know
Komen:
Komen:
Bulls have not won yet
Komen:
Let's see for a retest. Let's see
Komen:
Komen:
I don't like it. It shuold have gone much higher with that move
Komen:
Maybe we need to wait for more volumes to accumulate? I don't know
Komen:
This is due to strong bearish pressure
Komen:
Komen:
Where are the volumes in the 60 min charts?
Komen:
Komen:
back to the 5min chart
Komen:
little divergence with RSI
Komen:
Let's see if with the help of moving averages we can get more clues.
Komen:
Komen:
Judging by the moving avarages 100SMA and 200SM we have a nice golden gross meaning the trand long term has changed but in my view we it still need a low to conferm this possible new trend
Komen:
This is why it very important to be carefull.
Komen:
Ok...remember my post on the golden cross?
Komen:
That signal was found in a 15minute chart
Komen:
That signal originated a little upper channel remember?
Komen:
That helped the price to get where it is now
Komen:
Now we discover another golden cross made by longer SMAs
Komen:
Komen:
I don't know but if that 10400K resist and price 11.000 we may see a move confirming that bigger channel. I don't know. Just an idea. What is yours?
Komen:
Sorry, if 11400 resist and 11000 do not support
Komen:
So far 11200K supporting
Komen:
Komen:
Komen:
Komen:
Bearish pressure represented by the two SMA coming down and stopping bulls run
Komen:
If you look at the last 10 candles this is Elliot Wave
Komen:
3motvie, 2 corrective up to the SMAs...and then the correction
Komen:
We need to focus more
Komen:
After hitting those SMAs price corrected 50% fib of previous candle
Komen:
sorry "retraced"
Komen:
Its holding there waiting for a move...its' quite at the moment
Komen:
Komen:
Divergence with RSI on 1min chart but only becomes effective if RSI cross the 50 and the cross of the green SMA...bulls may try another attempt there but carefull could make a triple top
Komen:
Anyway it's a divergence on a dinamic bullish support
Komen:
But on such a low timeframe need to cross the SMA for the upside to get momentum
Komen:
Komen:
The divergence was not confirmed
Komen:
And priced dipped a little bit
Komen:
Sorry but platform stopped working for a while
Komen:
Komen:
I wrote that 11K would have been a nice support but platform stopped working. never mind...
Komen:
Komen:
Komen:
This has just been published by Goldbug1...let's see his view which sure will spread some light on what is going on...let's read it
Komen:
Ok...I am done for the day. I need to read this and make these concepts mine. Always be carefull and alert and follow professional traders. Not amateur like me. Thank you
Pesanan dibatalkan
Dagangan aktif
Komen:
No. Its not trading acrive. I just noted how it developed here. Is that a re-test?
Komen:
Ok let's wait and see. Too many bulls and bears trap around these days.
Komen:
Ok. I am done for now. Time for a lunch.
Komen:
Komen:
Be carefull. Click on the above and let me know what you think. I know market is doing another things but please be carefull.