This chart drew it self more ore less. The red dotted arrow line that goes down in a diagonal, has the exact same angle as the green one going up. Looks like our red dotted friend is a pretty big resistance. As we look at the period it took us to go up, we seem to have some time left over to go down. Maybe there will be a C wave going up for a little while (€ 7022 max in my opinion) but in general I think we have to expect more of the down trend.
as it now has proven, it will not do as you broadly drawn, but the oposite direction as I predicted in the btcUSD, you took a zoomed out view, zoom a bit more out, and draw then the mean average line, you will see a gradually climbing line, with the actual value dancing up and down around it. bears or bulls dont matter, its the whales that move the needle. and since most btc are in hands of big pools in china... oh well...dont be surprised if btc will surprise you in unpredictable ways. cryptocurrency does not conform to normal finance/trade rules. as there are no direct ties to the non crypto economy. btc is used to trade other crypto coins... its a closed loop, with barely any influx of 'real' money, or relation to 'real bussiness'. although you can say the same for many derivatives on the trading platforms that have no other purpose than to make rich people even richer...
oh well, its always amusing to read these analysis's and not act accordingly... P)
Skinwah
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Bears are running out of steam. Consolidating around 7k. If trend breaks we are in the money. Good observation
UnknownUnicorn1065329
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@Skinwah, Thanks. The trend broke but it seems that only the weak weekend bull broke through. I don't think we are bullish jet.
baschi
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Looks good, on which basis did you draw the red and green brown dotted line? I also see and indicator named 'ScalpCritpo' set, is this a special one?
BR
UnknownUnicorn1065329
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@baschi, Green is going up from the bottom of the wave till the very top. That timespan is marked green on the MACD indicator. I cloned that same timespan on the downward side of the wave and drew this red dotted downward going line. It seems to be a strong resistance line. Lets see...
oh well, its always amusing to read these analysis's and not act accordingly... P)