This is my vision on Bitcoin right now;
This is a fractal of the2014 bear market.
Looking at the macd we need one more leg down to complete the 3 humps that form the bullish divergence in the weekly MACD
Current downtrend is supported by the huge Hidden Bearish Divergence in the RSI and the rejection of the decending summit line, both are not present on this chart due to scaling limitations.
Target of 5000 USD will be reached somewhwere in the beginning of november.
Always make your own analysis before entering a trade.
This is a fractal of the2014 bear market.
Looking at the macd we need one more leg down to complete the 3 humps that form the bullish divergence in the weekly MACD
Current downtrend is supported by the huge Hidden Bearish Divergence in the RSI and the rejection of the decending summit line, both are not present on this chart due to scaling limitations.
Target of 5000 USD will be reached somewhwere in the beginning of november.
Always make your own analysis before entering a trade.