BTC/USD 24 June 2019 Update Consolidation around Golden FIbonacci Line

in #chart5 years ago (edited)

download (63).png

  • See a golden Fibonacci ratio ( fibonacci sequence x 1.618) play a significant part while it's now acting as a resistance at the moment. If the price manage to close above it consecutive times, i will be a good trend for bullish trend.

  • There's a scenario also the price action will retest it's current up trend line for more bullish trend validity. conversely, fail to do so would be a bad sign for bullish trend .

  • Potential support and resistance for short term can be seen on the picture for more detail.

download (64).png

Indicators :

DMI : +DI and -DI is flat for now indicate a consolidation is in progress while ADX i slightly slow down it's momentum although is still consider a major bullish trend is in progress for now.
MACD : at this time macdline is in downward momentum, it still hover on bullish area and currently no bearish divergence in sight for now.

Thank you for your time to read this post and please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion.
and please feel free to share what your thought on comment section.
peace.

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