Is it the end of the flat? Daily bitcoin analytics 29.10
Hello! Greetings from the traders Lemon Insiders team!
The price fell down with very good volume after flat.True, there are a few points saying that the flat can continue, or we will see a “Bart” near time.
1. Large volume jumped on the 1H bar of the fall, but at the same time the candle was closed higher than middle. It means that the strait was bought out and this was made well.
2. The second falling candle is already at a slightly smaller volume, but it is closed just below middle, while it has a large shadow and broke through strong support.
3. The fall didn't continue.If there were forces to shed the price, it would be done immediately, but here the MACD indicator will help us.
4. MACD shows the seller’s power is running out at 1H, the indicator begins to gradually turn to the bull side.
5. StochRSI is already in very strong oversold on 1H, 4H and smaller timeframes.
6. Longs has been taken on the fall. The crowd doesn't take longs in the decline, she took, as expected, shorts.This tells us it's advantageous for a large player to take long now.
All these factors tell us that the continuation of a strong fall is unprobably. Most likely, we will see lateral movements or the price will be slightly higher at the test levels of 6300-6320. In any case, it is still dangerous to take short, because we are already at the expected bottom.
Thank you for your attention!
The price fell down with very good volume after flat.True, there are a few points saying that the flat can continue, or we will see a “Bart” near time.
1. Large volume jumped on the 1H bar of the fall, but at the same time the candle was closed higher than middle. It means that the strait was bought out and this was made well.
2. The second falling candle is already at a slightly smaller volume, but it is closed just below middle, while it has a large shadow and broke through strong support.
3. The fall didn't continue.If there were forces to shed the price, it would be done immediately, but here the MACD indicator will help us.
4. MACD shows the seller’s power is running out at 1H, the indicator begins to gradually turn to the bull side.
5. StochRSI is already in very strong oversold on 1H, 4H and smaller timeframes.
6. Longs has been taken on the fall. The crowd doesn't take longs in the decline, she took, as expected, shorts.This tells us it's advantageous for a large player to take long now.
All these factors tell us that the continuation of a strong fall is unprobably. Most likely, we will see lateral movements or the price will be slightly higher at the test levels of 6300-6320. In any case, it is still dangerous to take short, because we are already at the expected bottom.
Thank you for your attention!
כתב ויתור
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