Quick preview of my past TA - Bitcoin Technical Analysis - 29 March 2018.
The price has now breach the $7k zone, however, it is not yet clear if this will continue downwards as the bulls are still fighting for a higher price. The 1-day RSI indicator signals a bullish flag, however, wave E suggests that we will see another low before the price goes up.
30-min. chart shows the price bounced up from $7k zone, then, the retest successfully broke the support and briefly pushed the price to $6.6k zone before going back up to $7.3k zone. However, the price failed to breach the 55-EMA and it pushed the price again below the $7k support.
Upward ABC wave in the short-term is expected provided that the 30-min RSI indicator support holds (bullish flag). However, breaking the RSI support and the $6.6k zone will invalidate this count and will push the price downward up to $6k zone.
Expected short-term price movement: neutral to slightly bullish
Disclaimer
This is my personal view and I don't claim it to be a professional financial guide. Your decisions are only controlled by you and only you. Listen to what others say, but don’t believe everything that you hear. Research, analyze, and think. In the end, you can only thank yourself for believing in something that is true. Likewise, you can only blame yourself for believing in something that is false.
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