Bitcoin Price, Is It Time?

A few charts with relevant indicators for your pleasure. ;)

Chart parameters:

3 day volume candles

Timeline from Low of $162 in late 2015 to the recent high of $2922

Chart 1: Fib levels, + Relative Strength Index

Chart 2: Exponential Moving Average (EMA) Simple Moving Average (SMA)

Chart 3: Chikou Span (Ichimoku Clouds)


Chart 1

Moving between the top FIB level's struggling to breakthrough could be a move to test the 62%($1900) level again.

RSI of 64 signals medium overbought with very little room above, a signal downwards.

StochRSI of 0.5 is midway no indicator


Chart 2

EMA turning upward signals a buy.

SMA looks to be continuing up also soft signal upwards.


Chart 3

Chikou span turning upwards is a positive indicator for upwards momentum


Conclusion

3 positives and 2 negatives hard to tell which direction prices is going.

I think due to the lack of liquidity in the market breakout is still at least a week away and a return to $1900 is on the table.

For a breakout to be definite must close above $2960.

For a definite downward trend close below $2500.

I also think volume should be close to $3MIL to have enough momentum to break the top.

Please let me know your opinion and any comments would be appreciated.

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6 Comments
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