Is this a fake bear run or are we getting back to 6,000$?
Updated
Hello everyone, this is my last chart. I am analyzing with you BTC movement. I still don’t know where it will get to. Let’s find out.
What are those red and green boxes? And what is that horizontal line?
Those boxes represents the areas where BTC is supposed to move and NOT to move. Let me explain better: in order to have a BULLISH pattern, BTC MUST go higher than both green and red boxes (can be used as resistances and/or supports). Vice versa, in order to have a BEARISH pattern, BTC must move below both green and red boxes (can be used as resistances and/or supports). The green line represents a support level (calculated with other indicator but CASUALLY (you really think so? TA never fails me) supporting at the same level of the lower green box line.
What will happen is BTC will break that level? We will go to 6,000$.
CCI: BULLISH
RSI: BULLISH
So, what is going to happen?
From my point of view, everything is ready for BTC to reach new ATH. But, in order to do so, BTC MUST break some resistances (highlighted before). Only gaining momentum, breaking resistances, and doing (why not?) little corrections here and there, BTC can go to 25/30,000$ and more.
Trade with your brain
Neurosignals Team
What are those red and green boxes? And what is that horizontal line?
Those boxes represents the areas where BTC is supposed to move and NOT to move. Let me explain better: in order to have a BULLISH pattern, BTC MUST go higher than both green and red boxes (can be used as resistances and/or supports). Vice versa, in order to have a BEARISH pattern, BTC must move below both green and red boxes (can be used as resistances and/or supports). The green line represents a support level (calculated with other indicator but CASUALLY (you really think so? TA never fails me) supporting at the same level of the lower green box line.
What will happen is BTC will break that level? We will go to 6,000$.
CCI: BULLISH
RSI: BULLISH
So, what is going to happen?
From my point of view, everything is ready for BTC to reach new ATH. But, in order to do so, BTC MUST break some resistances (highlighted before). Only gaining momentum, breaking resistances, and doing (why not?) little corrections here and there, BTC can go to 25/30,000$ and more.
Trade with your brain
Neurosignals Team
Note
BTC is closing the day with a Doji candle with a very long inferior shadow. It is almost a Dragonfly Doji and it is a very strong BULLISH pattern.Is it sufficient to say that BTC will go 100% up? No it is not, we need a confirmation, so we have to wait the next one or two daily candles.
Considering this pattern and the RSI and CCI indicators, the buyers are strong.
See you for the next update
Note
Here it is a new analysis with updated green and red boxes (they change daily, so better be updated!)Look at the last 2 candles in the daily pattern, that is a BULLISH ENGULFMENT PATTERN! A strong bullish signal IF CONFIRMED.
How do we confirm a bullish engulfment? With another good green candle tomorrow, hopefully closing above the blue line @ 9820$. That is a convergence line, and once broken, will trigger a very bullish run.
The green lines are some targets.
Stop losses if BTC closes below @ 8100-200$
Note
The bearish engulfment pattern was NOT confirmed, as you can see.Today’s candle seems a DOJI or a SPINNING TOP. Either way, it means INDECISION.
My personal idea is that the sentiment behind BTC remains strong, even if some market manipulation happened (Mt. GOX sold many millions worth of BTC).
A bullish run is possible, in my opinion.
Note
Wrong graph, this is the right one:
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