We can see price got rejected by the downward trend line. It was a good time to sell.
Now looking to buy back
Possible Buy Entry = 1
1. Expected to bounce off kumo cloud.
2. 0.5 - 0.618 Fib levels
Possible Buy Entry = 2
1. Expected to bounce off bottom kumo cloud.
2. 0.786 - 0.883 Fib levels
3. Trendline support
RSI = Bearish
Sqz Mom = Bearish but its weak.
Now looking to buy back
Possible Buy Entry = 1
1. Expected to bounce off kumo cloud.
2. 0.5 - 0.618 Fib levels
Possible Buy Entry = 2
1. Expected to bounce off bottom kumo cloud.
2. 0.786 - 0.883 Fib levels
3. Trendline support
RSI = Bearish
Sqz Mom = Bearish but its weak.
Note
As you can see BTC bounced on the 0.5 fib.
Yesterday's candle ended in Doji formation.
It signifies that sellers are exhausted now.
Fundamental = There is still fear in the market with the news coming from china about ban on exchanges and rumors floating around on ban on mining too.
Conclusion : Overall BTC does look bearish although its weak with sideways movements
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.