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
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