Quick preview of yesterday's TA
Yesterday, I have stated that going down to $8.4k zone is still acceptable for the impulse wave. For those who doesn't know, zone is an area where you the value is not definite. Meaning, if I say $8.4k zone, it means the price may go to $8.3 up to $8.5k depending on where you will meet a certain support or resistance.
As you can see, the price briefly breached the $8.4k zone, and went down up to $8.28k. We are not sure if this is valid or not as wave 4 of the impulse wave. One reason I am thinking why the wave 4 failed is possibly because of the Binance FUD earlier today.
Anyway, let's say that the count is now invalid. Here is a new count where we can clearly see a completed WXY corrective wave. The price has now bounced up to around $8.57. We'll have to wait to see up to what price will the upward movement go as MACD and RSI indicator only shows neutral to slightly bullish signals. The price has now breached the 55-EMA chart and is about to reach the 0.382 Fib. retracement zone.
Resistance zones are shown in the Fib. extension indicator. Expect short-term prices to be bullish.
Earn through SMARTSTEEM - guide
Earn followers and upvotes through STEEMFOLLOWER
Earn through mobile mining - Electroneum
Trading Strategy 101 – Understanding Cryptocurrency Volume
Trading Strategy 101 – Understanding Order Books, Buy Walls, Sell Walls, and Fake Walls
Trading Strategy 101 – Using 3 Moving Averages
Trading Strategy 101 – Support and Resistance Zones Strategy Guide
Trading Strategy 101 – Easiest Bitcoin Trading Strategy
Crypto Guide for Dummies - Avoiding Beginner's Mistake
If you liked this post or it helped you in any way, please upvote, follow, and resteem so that more people can learn about this information! Thank you!
