4:37 On the monthly chart, If current declining trend line should repeat the previous declining trend line from 2014, then it should last until Aug'19, it's very over extended but it's possible.
5:33 In 2014 Bitcoin broke 30-month moving average and traded in between 30 and 50-month moving averages for 10 months. Twice it broke below the 50-month moving average on a intra month basis but never closed below it. Same could easily happen again, we could be breaking the 30-month moving average around Oct'18, Nov'18 or even Dec'18. Fibonacci 0.764, 30-month moving average and Sep'17 peak at $4,975 are all creating a strong support. First thing, we need to get to $5,000 area and then we can assess if we can hold it.
9:22 We're close to losing SAR and price is getting close to the lower Bollinger Band. This is looking Bearish.
10:17 We're back at $6,240 area on a daily and it looks like a complete disaster.
11:00 We have a second lowest opening this year on the weekly candles. Death Cross played a big number on Bitcoin.
19:46 Bitcoin looks very similar to Silver. When silver broke below the Market Structure it quickly lost 50% of it's value.
23:23 Daily chart is in the middle of nowhere and 1 to 4 countdown correction is coming to an end. It looks bad.
24:02 12h chart was in conflict with the daily chart and it looks like it won, it has finished it's 1 to 4 candle correction.
25:44 On 4h chart the longs are disappearing, people haven't got much confidence.
Morning
39:44 It would be nice to get to the top of triangle at $7,500 on the Weekly but it's going to be hard.
40:13 On the daily I expected a 1 to 4 candle Dead Cat bounce to take us to $7,000 vicinity but there was a big drop couple days ago. 12h chart was in conflict with daily and the price was exhausted. We bottomed at the 8th candle, then had reversal 9th with a bit of upside but this 1 to 4 is now coming to an end. Unless we break above $6,500 on a 12h candle close basis that could get us to $7,000 we are ready to go back down.
Bitcoin Technical Analysis 13th August 2018 | Ecency
Bitcoin rebota desde $58K con entradas récord de ETFs | Hive sube 14% en 15 días y esto recién arranca 📈kryptonita ·
