BTC bullish reversal near? touched 2017 log scale trendline

9 במרץ 2018

As we can see in the bottom half of the analysis, BTC has touched the 2017 log-scale trendline and bounced up from there.
BTC also entered my buy zone (will add extra pictures in the update section)

Bearish volume is decreasing as seen on volume, green candles are getting bigger and are starting to take over red candles which could indicate reversal.

If we drop beneath 7750 that would be a bad sign. Do your own analysis and be prepared on both bullish and bearish scenarios.
Know how to trade either way because we are on a thin line between a big bull run or a lot more downtime.

9 במרץ 2018

הערה

Perfect rejection of log scale downtrend line (red line).
Purple zone indicates buy zone created by previous resistance/support zones

9 במרץ 2018

הערה

when 4h RSI has been this low, look in the past

9 במרץ 2018

הערה

momentairly downtrend in this short term channel

9 במרץ 2018

הערה

Very minor bullish divergence on 1H. Big decreasing price tho

9 במרץ 2018

הערה

If wave A = Wave C, possible low at around 8k

9 במרץ 2018

הערה

9 במרץ 2018

הערה

bear flag, perfectly touched 0.618 fibo retrace, most likely extension if bear flag does not break to 8050 usd, 2nd target 7915

9 במרץ 2018

הערה

Bitcoin got up to that Optimale Trade Entry at 0.705 Fibo retrace. Breaking down bear flag, target 8050 USD

12 במרץ 2018

הערה

Big bear flag forming on the hourly, not really happy with this, will have to see how the market reacts to it. If this breaks downwards, im pretty confident that the log scale 2017 trendline will be broken. Hourly RSI very low so lot's of upside potential.

Sold my first position at 9500 and have now bought again at 8800 with my stop at 8350 for now.