$7100 is just a .50 Fib. retracement from the previous drop

30. Aug. 2018

Two days ago I published a bearish scenario on BTC already.

Here is a new one even more bearish.

30. Aug. 2018

Anmerkung

I know that a lot of crypto traders use different parameters (like 20, 60, 120, 30) with Ichimoku instead of the classic one but I find the original one much more reliable.

30. Aug. 2018

Anmerkung

On the hourly chart

(a) The Kumo (cloud) (hourly) is a support
(b) but the Tenkan sen (blue) and the Senkan Span B (red line of the cloud) should be a resistance

30. Aug. 2018

Anmerkung

the (b) on the left is (a) ;-)

1. Sept. 2018

Anmerkung

1. Sept. 2018

Anmerkung

Will this sideway action end like the one we had end July?

2. Sept. 2018

Anmerkung

I must admit the momentum is pretty bullish now.

However volumes are not there to confirm that and there is a bearish divergence on the 4H timeframe.

2. Sept. 2018

Trade ist aktiv

Shooting star + Bearish divergence.

Let's go down now

3. Sept. 2018

Anmerkung

Now a bearish divergence on MACD (4h) on top of the one on the RSI (4h)

5. Sept. 2018

Anmerkung

So sweet, BTC broke down just after reaching the .618 Fib. retracement.

How long will the current support hold the fall of BTC?

7. Sept. 2018

Trade wurde manuell geschlossen

I think we will have a correction after the huge drop we had.

See my most recent posts to have the latest updates

8. Sept. 2018

Anmerkung

I closed my trade at least temporarily for the reasons mentioned on the graph below