Hey traders! Histogram is showing positive divergence + MACD in 4h. The price is hovering close by MA100 line and it bounced off from the top level of the box. It is necessary to move above these downtrend lines before moving further upwards. MA50 has acted as resistance level (if you look in to 4h chart you see it) and once it breaches above it, it is good indicator that the price is going to move up. Long wicks are also indicating that buyers are gaining more strength and supporting reversal movement. These candlesticks are considered as sign of reversal. Buy orders should be set above MA50, above first downtrend line or resistance level at 11,800 level. I'll keep it short this time. If you need any help with trading, recommendations or where to search basics just feel free to leave me DM 1.12% 1.12% in here or in my twitter. I try to respond ASAP! :) Happy trading! Things to Remember:
Stop-loss orders are strongly recommended.
Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
That weekly candle MACD is about to give us an ugly death cross. I'm expecting a significant drop to a new floor. Will it be $7500?
vRaBBiTv
⋅
Bubble chart shows this is in a Bull Trap. Actually would give way to Elliott wave 5 if we do go down which would be nice for us peasant like folk that want to get in later in the game...
jamikr
⋅
or bull trap. ? hm dunno weekly and 3 day chart weren't looking good to me
robertjulius
⋅
@jamikr, I love Yarr, but weekly says we have a dip ahead to me too. Long time since red weekly CCI but we're heading there