weekly indicators show similarity with 2011 bottom.
* 20 MA - 40 MA -50 MA projected lines suggests A GOLDEN CROSS between November and end December period * Weekly Macd cross indicates a trend reversal as it happend only in 2011 and in the 2015 bottom period.
*Note that 40 MA weekly coincided with 200 MA daily in 2011 bounce and acted as strong selling level
*Today the 200 MA is just between the the 40 MA - 50 MA weekly ..signalings a strong selling zone at 8600$-9200$ levels
* after retracing from the above mentioned levels and based on the moving averages an accumlation period between 7500$ -9000$ would be in play till the GOLDEN CROSS ..this accumulation level is also where daily moving averages align horizontally
* PLEASE NOTE THAT THIS IS NOT A TRADING ADVICE AND ONLY AN IDEA FOR EDUCATIONAL PURPOSE*