Bitcoin Technical Analysis 30 August 2018

Dear followers, in the first 6 post I explained in detail that how can we predict trend in cryptocurrency. We discuss in detail about Price Action, Bollinger Band, Relative strength ( RSI ). If someone is new to my posts then I will give links at the end of this post. Everyone can learn about Trend prediction. Now I am starting Bitcoin technical analysis.
As we know Bitcoin has crossed $7000 and everyone is happy with this movement.

Day Time Frame

Dear friends, keep in mind, no doubt Bitcoin just crossed $7000 but if we look on Day time frame of Bitcoin, according to Bollinger Band it is in Bullish state. But Relative Strength indicator on Day Time frame is 58.64 at the time of writing this post. So RSI is below 60 we could not say that RSI is supporting the Bullish Trend of Bollinger Band. As far as Price action is concerned on 29 August an inside bar occurred so it is also showing no bullish trend in the near future.

H1 Time Frame

So on H1 Time frame price of Bitcoin turns to bullish on 28 August at 2 a.m. It turned to sidewave on 29 August at 5 p.m. So right now it is still in side wave movement. So for Bullish trend first it should be in Hourly time frame then it will be converted into Day time frame.
So what should be our next plan.
I will recommend that trader who buy at $6000 to $6200 should close the trade and stay away from the market. Trader who does not enter the market and wait for the further low price they should not enter right now. Because they can be victim of fear of missing out good opportunity. Because they had already lost good opportunity. They should wait the price turns down and will touch the middle Bollinger band which is dark red bold line as shown in the Day time frame picture.
If you have queries do not hesitate to ask me through comments.

https://steemit.com/cryptocurrency/@cryptoexpert79/how-to-predict-the-trend-in-cryptocurrency-part-1
https://steemit.com/cryptocurrency/@cryptoexpert79/how-to-predict-the-trend-in-cryptocurrency-part-2
https://steemit.com/cryptocurrency/@cryptoexpert79/how-to-predict-the-trend-in-cryptocurrency-part-3
https://steemit.com/cryptocurrency/@cryptoexpert79/how-to-predict-the-trend-in-cryptocurrency-part-4
https://steemit.com/cryptocurrency/@cryptoexpert79/when-buy-crypto-currency-and-when-not-to-buy-trend-prediction-part-5
https://steemit.com/cryptocurrency/@cryptoexpert79/how-to-predict-the-trend-in-cryptocurrency-part-6-using-rsi