BTCUSD was forming a symmetrical triangle. By definiton of a symmetrical triangle, the chart should form LH and HL. The trend of an asset is defined depending on the breakout direction. A break above is bullish, a break below is bearish.
Yesterday the price broke above the triangle, which could indicate a bullish trend.
My trade setup:
I personally have targeted...
Previous analysis
General view
I think we are still bearish for the next week. But I also think it is unlikely to go down to ~4k.
RSI
RSI never lies. From historical rsi data i think we can pretty much assume that we need to head oversold areas before we can go up again. At the moment the rsi is losing strength, so i think we go down this week.
Fib...
Possible BITFINEX:BTCUSD target in green box, in my opinion tho :)
Indicators
- GANN indicator calibrated with previous lower price points.
- RSI showing lower lows
- Waves following WXYXZ rules pretty well
- Price also bounces resistance line
![BTCUSD: BTC/USD: Bears getting weaker? [2018-10-10]](https://s3.tradingview.com/y/yW5DCQOa_mid.png "BTC/USD: Bears getting weaker? [2018-10-10]")
