So, bitcoin!
Well, let's see. Crunch time right now.
Let's start with the moving averages.
By and large the 4h 200 moving average has held as support, since we first closed just above it after the dip on the 21st. It needs to keep doing so
Right now the moving averages have bunched up for a move on both the hourly and 4 hour timeframes, with a tentative bullish cross of the 20 and 50 on both charts as well.
The angle of the cross does not suggest a lot of impulse behind it however; they are definitly contracting further: Higher lows, lower highs. Something's gotta give.
Now, on to the other indicators.
CCI is showing a long thin sliver of red on the 4h. A thinning wobble from red to green to red on the hourly. Not great, but it wouldn't take much to turn it green.
Stoch RSI is showing bearish divergence, rising while the price is dropping. That's not good.
Fibs:
The 0.618 is acting as support, coinciding with the 200 moving average on the 4h: The times where the price closed below this fib level, it was held up by the 200 MA which has now caught up with the 0.618. So we will see something! Either a drop below both - potentially to a new low of 10945 - or a wave higher.
So: Not a buy yet, but not quite a sell. A lot is riding on the next few days. If we continue on horizontally, that's good news.
If i had to choose I would say long. If I was leaving for a month away from all internet, and i was in fiat, i would buy in here. Maybe 50%. Then the rest either on a retest of 11k or a breakout of 16.5. Worst case scenario you're bagholding while it dips to 9, 7 or 6k. Best case you bought the christmas dip of 2017.
Anyway, that's not really TA.
TL;DR.
Horizontal here, unless we break down. If that's the case, expect a retest of the daily 50 at 12159 or the 0.5 fib at 12610. If those fail, 10945 aka 11k, or 8885 aka 9thousand. So exit all crypto markets if we do, because alts will fall even steeper.
Daily close above 20MA would be goooood news.
Well, let's see. Crunch time right now.
Let's start with the moving averages.
By and large the 4h 200 moving average has held as support, since we first closed just above it after the dip on the 21st. It needs to keep doing so
Right now the moving averages have bunched up for a move on both the hourly and 4 hour timeframes, with a tentative bullish cross of the 20 and 50 on both charts as well.
The angle of the cross does not suggest a lot of impulse behind it however; they are definitly contracting further: Higher lows, lower highs. Something's gotta give.
Now, on to the other indicators.
CCI is showing a long thin sliver of red on the 4h. A thinning wobble from red to green to red on the hourly. Not great, but it wouldn't take much to turn it green.
Stoch RSI is showing bearish divergence, rising while the price is dropping. That's not good.
Fibs:
The 0.618 is acting as support, coinciding with the 200 moving average on the 4h: The times where the price closed below this fib level, it was held up by the 200 MA which has now caught up with the 0.618. So we will see something! Either a drop below both - potentially to a new low of 10945 - or a wave higher.
So: Not a buy yet, but not quite a sell. A lot is riding on the next few days. If we continue on horizontally, that's good news.
If i had to choose I would say long. If I was leaving for a month away from all internet, and i was in fiat, i would buy in here. Maybe 50%. Then the rest either on a retest of 11k or a breakout of 16.5. Worst case scenario you're bagholding while it dips to 9, 7 or 6k. Best case you bought the christmas dip of 2017.
Anyway, that's not really TA.
TL;DR.
Horizontal here, unless we break down. If that's the case, expect a retest of the daily 50 at 12159 or the 0.5 fib at 12610. If those fail, 10945 aka 11k, or 8885 aka 9thousand. So exit all crypto markets if we do, because alts will fall even steeper.
Daily close above 20MA would be goooood news.
Komen:
Heading down; and with some volume too. Daily 50 will be next stop 12142
Komen:
12142 held for now. still a lower high. Subtle short term bear-trend continues for now.
Dagangan ditutup: sasaran tercapai:
How cool is it that we corrected back up after such a shallow dip when it could have been much worse! Gotta love bitcoin.
So, bitcoin is trending down. Luckily, it's not yet an 'exit all crypto markets' signal: We are trending down slowly, which means alts are still good against bitcoin. For now.