In 1hr:
As expected RSI found support whilst the price continued down. THe price has found support.
Will the RSI give support twice or will it break through next time? Will the price support hold?
RSI and MACD trends are upward, but maybe too fast and resistance to be encountered
In 4hr:
RSI support not yet reached and not yet oversold (<30%).
My thoughts on this so far have been proven conservative a couple of times and its looking that way again. Breaking through the long term price support however would have further consequences.
10440 is a re-entry position I like, but do not want to go in 100% until conformation is attained from the 4hr.
Caveat: I am not a professional trader or adviser. Do your own research before making any trade. Never trade more than you can afford to loose.
As expected RSI found support whilst the price continued down. THe price has found support.
Will the RSI give support twice or will it break through next time? Will the price support hold?
RSI and MACD trends are upward, but maybe too fast and resistance to be encountered
In 4hr:
RSI support not yet reached and not yet oversold (<30%).
My thoughts on this so far have been proven conservative a couple of times and its looking that way again. Breaking through the long term price support however would have further consequences.
10440 is a re-entry position I like, but do not want to go in 100% until conformation is attained from the 4hr.
Caveat: I am not a professional trader or adviser. Do your own research before making any trade. Never trade more than you can afford to loose.
Kommentar:
ITs been a long day, and I only just got in after day on the road and the odd service station.
Wow, what did I miss?? Market crash due to hacking means all TA is out the window until the market re-balances itself.
The bounce is already happening, but no idea if it will hold. There is a lot of resistance keeping the price down, but a FUD induced crash and follow-up can ignore all R&S.
Watching closely / going to sleep.
Wow, what did I miss?? Market crash due to hacking means all TA is out the window until the market re-balances itself.
The bounce is already happening, but no idea if it will hold. There is a lot of resistance keeping the price down, but a FUD induced crash and follow-up can ignore all R&S.
Watching closely / going to sleep.
A few important points:
Short:
BTC is now through all significant MA lines on the 1hr
Only the 200MA left on the 4hr, which its currently sitting on and looking precarious
Bouncing off the 1hr RSI support - but expect a double bottom, so don't see that lasting.
Long term price support smashed.
Long:
Fast approaching the 4hr RSI support and is oversold.
Conclusion:
Lots of support lines are now resistance lines.
Glad not to have committed 100% at target.
Off the cuff, I see the next entry around 8400, but I need to process more and write a new post.
take care out there!