Wizard strikes again (BTC) - 19/01/19
BTC INTRA-DAY BREAKDOWN (REDACTED BTC BREAK DOWN FROM PRIORITY - OUR PREMIUM SERVICE)
What has occurred since our last intra-day breakdown for BTC (FINEX) ?
To sum up :
1. Maximum upside activity at the minute on FINEX is 4100$ and downside is still holds precedence until 3650$ support and even more so 3483$ support.
2. Break of neckline at 4.4k still leads to resistance at 5.2-5.4k on finex but I can downgrade the possibility of this move with a early rejection from 4900$ as I believe the bulls are really weak even though there is a bullish vibe in the crypto community going into the new year.
3. We should be thinking short at the minute and BUY at 3483-3659$ in order to continue trading this range into a breakout.
Review:
Guys, please acknowledge the accuracy of my calls. Targets hit to the TEE as BTC reached 3600$. Clearly stated when bitcoin was trading at 4050$. Moreover, Maximum upside potential was not maxed out as expected.
We will do the top down style analysis to look at possible price direction, that you should have become accustomed to by now.
WHAT CAN WE SEE ON THE DAILY CHART ?
- Firstly, we can see that we look like we are using MA as support on the Daily chart for BTC (finex). Moreover, we can see that the black trend line on our price chart has consistently held as resistance and I would not be surprised if it holds for the third time. Moreover, we can see a mini fan being created on our price chart with all indicators leading towards 3250$ as our down target for support to be found.
- Furthermore, if we look at the RSI indicator, we can see that on the daily that we still have more room to move up to the 56 level on RSI and even as high as the 65 level on the daily.
- However, we can see quite a drastic divergence on the RSI/ROC indicator, and I’m pretty sure its a short term bullish divergence. None the less, we should note as soon as we reach the 53 level on RSI/ROC, then its game over and the bears can drive price back down to 3250$.
WHAT CAN WE SEE ON THE 4 HOURLY CHART ?
- Secondly, on our 4 hour chart we can see that we used ema 200 as resistance at right below 3900$. However, till now we have not had any sufficient bearish movement and it looks like we could see support at 3740$ before having another intra-day wick to 3950-4050$.
- On our RSI indicator, We can clearly see a rejection from 80 level and now we look like we are heading towards supports at 3740$ and this will be the 56 level on RSI. To add to this, we can also expect RSI/ROC to reduce to 53 level.
WHAT CAN WE SEE ON THE 1 HOURLY CHART ?
- Thirdly, on our 1 hourly chart, we can see that MA’s are currently being used as support. None the less, we can expect a drop to 3740$ to use EMA as su[[prt for a break of 3880$ and even more so a test of 3940$ at the minimum.
- We can see on our RSI indicator that 56 level has been met on the hourly chart. However, I feel that RSI on hourly chart could make lows of 37 level. And this will translate to 56 levels on bigger time frames ;)
- On our RSI/ROC indicator, we can see that 53 level is where we currently stand but a drop to at least 43 level could be in play.
To SUM UP:
- Expect a decline to 3740$ in the short term, and thereafter you can see an increase to 3880$ for a retest of resistance but I feel a break of this will be easy and we could have another go at 3950-4050$ with a wick.
- Thereafter, we can expect a rejection from these levels and for us to in fact see lows of 3250$ being achieved once again to sustain this fan shape.
- Remember, our downward accumulation zone is currently set at 1750-2200$ ;)
PLEASE SEE RELATED IDEAS DOWN BELOW ;) & don't forget to stay up to date with our calls by following our Instagram and telegram channels down below AND ON OUR TRADINGVIEW PAGE - CALL AFTER CALL CORRECT!
What has occurred since our last intra-day breakdown for BTC (FINEX) ?
To sum up :
1. Maximum upside activity at the minute on FINEX is 4100$ and downside is still holds precedence until 3650$ support and even more so 3483$ support.
2. Break of neckline at 4.4k still leads to resistance at 5.2-5.4k on finex but I can downgrade the possibility of this move with a early rejection from 4900$ as I believe the bulls are really weak even though there is a bullish vibe in the crypto community going into the new year.
3. We should be thinking short at the minute and BUY at 3483-3659$ in order to continue trading this range into a breakout.
Review:
Guys, please acknowledge the accuracy of my calls. Targets hit to the TEE as BTC reached 3600$. Clearly stated when bitcoin was trading at 4050$. Moreover, Maximum upside potential was not maxed out as expected.
We will do the top down style analysis to look at possible price direction, that you should have become accustomed to by now.
WHAT CAN WE SEE ON THE DAILY CHART ?
- Firstly, we can see that we look like we are using MA as support on the Daily chart for BTC (finex). Moreover, we can see that the black trend line on our price chart has consistently held as resistance and I would not be surprised if it holds for the third time. Moreover, we can see a mini fan being created on our price chart with all indicators leading towards 3250$ as our down target for support to be found.
- Furthermore, if we look at the RSI indicator, we can see that on the daily that we still have more room to move up to the 56 level on RSI and even as high as the 65 level on the daily.
- However, we can see quite a drastic divergence on the RSI/ROC indicator, and I’m pretty sure its a short term bullish divergence. None the less, we should note as soon as we reach the 53 level on RSI/ROC, then its game over and the bears can drive price back down to 3250$.
WHAT CAN WE SEE ON THE 4 HOURLY CHART ?
- Secondly, on our 4 hour chart we can see that we used ema 200 as resistance at right below 3900$. However, till now we have not had any sufficient bearish movement and it looks like we could see support at 3740$ before having another intra-day wick to 3950-4050$.
- On our RSI indicator, We can clearly see a rejection from 80 level and now we look like we are heading towards supports at 3740$ and this will be the 56 level on RSI. To add to this, we can also expect RSI/ROC to reduce to 53 level.
WHAT CAN WE SEE ON THE 1 HOURLY CHART ?
- Thirdly, on our 1 hourly chart, we can see that MA’s are currently being used as support. None the less, we can expect a drop to 3740$ to use EMA as su[[prt for a break of 3880$ and even more so a test of 3940$ at the minimum.
- We can see on our RSI indicator that 56 level has been met on the hourly chart. However, I feel that RSI on hourly chart could make lows of 37 level. And this will translate to 56 levels on bigger time frames ;)
- On our RSI/ROC indicator, we can see that 53 level is where we currently stand but a drop to at least 43 level could be in play.
To SUM UP:
- Expect a decline to 3740$ in the short term, and thereafter you can see an increase to 3880$ for a retest of resistance but I feel a break of this will be easy and we could have another go at 3950-4050$ with a wick.
- Thereafter, we can expect a rejection from these levels and for us to in fact see lows of 3250$ being achieved once again to sustain this fan shape.
- Remember, our downward accumulation zone is currently set at 1750-2200$ ;)
PLEASE SEE RELATED IDEAS DOWN BELOW ;) & don't forget to stay up to date with our calls by following our Instagram and telegram channels down below AND ON OUR TRADINGVIEW PAGE - CALL AFTER CALL CORRECT!
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