BTC- What to expect and what to do.
Updated
Today, we faced a bit to a price spike to no avail, and now were back in the 6900 range. So you might be asking yourself what the F**K is going on?! Below you will see a very simple and clear explanation on what is to come in the next few days.
1. Today was the creation of the 8th candle in the TD setup. As I predicted in my analysis from yesterday the candle opened where I predicted it would.
2. The bulls came out to rally the price up, but there was no way they could rally the price up to break the sequential count, or to prevent the Death cross.
3. If today's low goes below $6560 that will be making of a perfect but signal. If it doesn't its not a big deal. It's like receiving an ice cream cone and risking the possibility of it being topped with sprinkles. You dont really care because you still have the ice cream cone. In this situation the sequential 9 is the ice cream cone.
4. Tomorrow will be the creation of the sequential 9 candle which could come with some serious activity.
5. After the successfully plotted sequential 9 candle we should expect a temporary reversal to the upside or a consolidation period.
6. If we get a sign of a perfect buy signal the chances of a reversal to the upside is significantly higher.
7. We are still looking at a possible death cross. Tomorrow the 50 D MA might actually cross over the 200 D MA which will come with some more activity.
Keep an eye on the activity! Low's today can bring highs tomorrow!
I will post updates over the weekend.
Keep it simple.
Good luck!
*not financial advice ;)
1. Today was the creation of the 8th candle in the TD setup. As I predicted in my analysis from yesterday the candle opened where I predicted it would.
2. The bulls came out to rally the price up, but there was no way they could rally the price up to break the sequential count, or to prevent the Death cross.
3. If today's low goes below $6560 that will be making of a perfect but signal. If it doesn't its not a big deal. It's like receiving an ice cream cone and risking the possibility of it being topped with sprinkles. You dont really care because you still have the ice cream cone. In this situation the sequential 9 is the ice cream cone.
4. Tomorrow will be the creation of the sequential 9 candle which could come with some serious activity.
5. After the successfully plotted sequential 9 candle we should expect a temporary reversal to the upside or a consolidation period.
6. If we get a sign of a perfect buy signal the chances of a reversal to the upside is significantly higher.
7. We are still looking at a possible death cross. Tomorrow the 50 D MA might actually cross over the 200 D MA which will come with some more activity.
Keep an eye on the activity! Low's today can bring highs tomorrow!
I will post updates over the weekend.
Keep it simple.
Good luck!
*not financial advice ;)
Note
It's going as I predicted! :) Let's see how it plays out.
Note
We are witnessing the start of the reversal. We will see resistance at the $7210 where I drew that horizontal line. If we can break through that resistance we will go on a bull run, but nothing like a crazy thousand dollar increase.
We are seeing some Bullish volume and the RSI is rising.
It's crazy how proper Technical analysis can provide insight that will assist you in making profitable decisions! :)
Note
I hope you didn't fall into the bull trap. This temporary reversal (as i mentioned in my previous analysis) was a good time to take profits and minimize loss.
We started the first bear TD setup again today (4/4/18) and by the looks of it were going down.
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