BitcoinLong
Bullish Looking Bitcoin: Huge Positive ADL Divergence
Here is a general look of BTC after healthy corrections in early 2018.
Several important points:
BTC is currently trading near Fib0.618 and was previously bottomed (Provisinally) near 6000 (Fib0.786).
In Q4 2017, BTC and ADL (Accumulation Distribution Line) were following the same up-trend.
Since the price divergence (end Dec / Early Jan), ADL kept on accumulating during the entire decline period.
At present, 50-days MA (Moving Average) curve has been flattened close to 100-days MA suggesting a change in trend is approaching.
This is the reason why I am more bullish overall and will keep holding my positions by accumulating in this range (7200 - 9200).
Several important points:
BTC is currently trading near Fib0.618 and was previously bottomed (Provisinally) near 6000 (Fib0.786).
In Q4 2017, BTC and ADL (Accumulation Distribution Line) were following the same up-trend.
Since the price divergence (end Dec / Early Jan), ADL kept on accumulating during the entire decline period.
At present, 50-days MA (Moving Average) curve has been flattened close to 100-days MA suggesting a change in trend is approaching.
This is the reason why I am more bullish overall and will keep holding my positions by accumulating in this range (7200 - 9200).
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