Bitcoin death cross ?
Hello all,
I start today with my daily technical analysis. I will analyze a whole range of assets, from cryptocurrency of course, through forex, stocks, gold and even oil. I hope that it will be useful for some one.
Of course I'll start with bitcoin.
As can be seen from the graph above, the daily average EMA 50 and EMA 200 are dangerously close to each other. The intersection of these means in traders' jargon is called the "cross of death". This may be the reason for deeper bitcoin correction than most expect - even around $ 2,800- $ 3,000 in the medium term.
In the 4 hour chart, we can see that the price is testing resistance at the level of 8,300-8500 $. If he managed to break it would be a very good signal for bitcoin which would give an open path to the resistance test around $ 9,400. However, it is unlikely that this will happen because the Stoch RSI 4h is in the overbought area - I would bet the rejection of this level and another descent to test the support at $ 7,300- $ 7,500.
That's all when it comes to bitcoin for today, I invite you to upvote, follow, resteem :)
This is not an investment advice, it's only my point of view
whats funny is people dont want to buy when its cheap, but when it bull runs people will be pouring money in.
Why dont they p
postion themselves nows?
Thank you for your comment
A very nice growth impulse, however, we are still in the resistance zone, 4h candle needs to clouse above 8,800 $ and hold the retest so that we can talk about the reversal
Thank you man for this useful overview. You are upvoted and followed for this good staff. And whoever interested in good ICOs, please follow me cause I am doing reviews from time to time and hope will deliver you some useful information!
Thank you for your comment. Of course, I will be follow your ICO blog with pleasure:)
good information....and i hpe after G20 Cryptocurrency go to moon.....hehehheeee
regards..
@azyref
please vote me :)
For sure will go to moon someday but need little more time ;)
bitcoin is unstable, within 3 weeks down with drastic point. and rose 3% on average. and looks insignificant in recent weeks. issues and politics also participate. then all related. making people refrain and be careful to infest with and think carefully.