Just When I Thought I Was Out...They Pull Me Back In [Normal BTC Update]
Bitcoin these days 
Bitcoin daily
The tweezer top from today resulted in BTC losing 10% of its value. Right now we found support at the 0.5 Fibonacci retracement, which also aligns with Ichimoku's Tenkan & Kijun - so this support should hold. This correction was pretty much expected and is also healthy for us. The Volume is also rising these days, which is a further good sign.
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Moving Averages
From this perspective we can see that the 0.5 retracement, the TK & KJ (which I mentioned above), also align with the 100 day MA (red) and less important the 13 (green). I was hoping that as soon as we cross this 100 day MA and have our first correction, we find support back at the 100 - which also happens. Previous resistance becomes support. Nevertheless, things are not definitive and further drops could happen.
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Bitcoin 4H
A closer look at the correction: we had a bearish RSI divergence (price makes higher highs, while the RSI makes lower highs) and we are at the 0.5 retracement and just above the green support cloud. Notice how this clouds aligns with the Fibonacci retracement levels.
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The Adam and Eve Evolution
A few days back I mentioned a potential Adam and Eve pattern (first pic) and here it is. Let's see how things evolve and if we manage to break this 4100$ resistance barrier.
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- Gate - for small cap / new coins
- Huobi - margin trading
- Coinexchange - big variety of coins
- Magic Dice - Feeling lucky? Gamble your money
- Freebitco.in - earn free Bitcoin & high prices - if you're lucky
- 0xe1347a6F7f44fdd6Ae8B2fA80E1c8e1e4a13C7a5 - If you wish to donate ETH / or ERC-20 tokens
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Thank you again for sharing all that info it is really good stuff.
Thanks. Appreciate it, @stever82!
So what is your prediction for price in the next 30 days?
I stay as far as possible from making predictions because in this market random things happen all the time and people get burned fast.
I will remain bullish in the following period if:
These are IMO some of the major signs that will tell us how thing will evolve from now.
Thanks for the reply!
Good call on avoiding predictions. To many outside factors that can change everything overnight.
It safer this way, everybody should be "on their own" when it comes to when & how much to invest.
Take care!
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