We also have to take into consideration one more thing. The on the lower time frame and the reversal pattern on the , it should give us more positive. reached the oversold zone and it can give us a good reversal signal. If the close price of this day is not far from the current levels, we’ll get a new candle. We’ll be able to draw a new uptrend line using a new swing low. For further downward movement, the price will have to break this support line. If the price continues the upward movement, we should watch closely for price action at 10000.00 and 12000.00 resistance levels. For confirmation the power of bulls, the price will have to move above these resistance levels. In other way, the unstable market conditions will continue for some time.
Try Free Bitcoin Trading Simulator: http://bit.ly/bitcoinflip
Free Forex Signals: https://www.fxluxus.com
I'm personally looking for lower volatility and hopefully some oscillator divergence for a good long signal to decrease risk.
many people are using arbitrage strategies (and trading bots), so different markets are just BIG MARKET all together. And generally are the same.