BTC- Three White Soldiers Pattern?
Hey everyone, today I will bring you my perspective on this rally.
First, I can see a Three White soldiers pattern formed , with the only noticeable problem being the Volume dropping a bit while rallying.
This pattern is common to see after a strong downtrend, indicating a possible reversal in the trend.
We can also see that a Bullish Divergence as occurred (RSI) , and that volume was dropping from 20th November till 16th December 2018, which indicates that the downtrend was losing strength.
According to My Fibonacci Analysis, there's a possible resistance in the blue rectangle (5740-5840).
The odds are now in favor of going long rather than short, at least for a short-term.
I will keep updating!
If you want to share your ideas , comment down below and like if you enjoyed this analysis.
First, I can see a Three White soldiers pattern formed , with the only noticeable problem being the Volume dropping a bit while rallying.
This pattern is common to see after a strong downtrend, indicating a possible reversal in the trend.
We can also see that a Bullish Divergence as occurred (RSI) , and that volume was dropping from 20th November till 16th December 2018, which indicates that the downtrend was losing strength.
According to My Fibonacci Analysis, there's a possible resistance in the blue rectangle (5740-5840).
The odds are now in favor of going long rather than short, at least for a short-term.
I will keep updating!
If you want to share your ideas , comment down below and like if you enjoyed this analysis.
Nota
Rejection in the Symmetry projection Fib 1. , look at that shooting star that formed with a huge volume, that's an "anomaly" indicating that whales are not ready to push the market higher, there's still some selling to be done.
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.
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.