Bitcoin entering correction mode once again
Bitcoin entering correction mode
Hello dear steemians,
so it seems that bitcoin is once again in a correction cycle after breaking the $5.600 USD support zone.
Take into consideration, that the volatility in each previous correction has been decreasing.
- Upon breaking the $5.300 - $5.000 USD support I will expect bitcoin at the $4.500 - $4.300 USD range.
On the weekly chart clear patterns of correction are shown
- MACD forming a bearish M pattern
- RSI over 70, indicating Bitcoin had been overbought.
I think this is the aftermath of Bitcoin Gold fiasco, that triggered the buy period and now the correction, as people got into Altcoins after the blockchain had been copied.
Also a Head & shoulders pattern (Bearish sign) might be forming, giving me an opportunity to trade it out
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@originalworks
@OriginalWorks
Bitcoin dahada yükselecek sene sonuna çok farklı bir bitcoin göreceğiz😀
Bitcoin dahada yükselecek sene sonuna çok farklı bir bitcoin göreceğiz😀
Agreed. Next time please translate into english before posting.
OK an additional comment will be in english
XD
@originalworks
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