So we've just broke the bear-flag. In my opinion just a short term pump (and probably dump). Kind of crazy how people react to one green candle after a huge dump before.
Personally, i'm still waiting at the side line to wait for more confirmation before i make any decision. So for now, probably going to stay inside the red channel and high chances it will go down again. Break above 6800 could lead into a (short-term) bull-run. Time will tell.
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Making a small short-term bull flag now witch could break out to the top of the red line at $6800. RSI overbought and now heading down.Probably going to play out like the circles and retest the supportline at $6500
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Mini bull flag went to the top of the resistance line. Still a big bear flag in the bigger picture. Wouldn't be surprised is it falls from here. Break out above 6850 (with confirmation candles) will abort the bear flag.
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Heading down a bit. Also notice the RSI on the 4H chart. Lots of resistance at the 60 level.
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Bearish divergence... Bulls are exhausted
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Headed down as of the recent Bithumb hack. Probably going to test the supportline at $6500. But be aware of a heavy drop if it breaks down. Expect a big sell off if it goes under 6K. Stay safe.
Bittrex is already showing a HUGE bearish divergence on the 15, 30, and 1H charts already from that pump. It may drop below 6700 before even in the next few minutes.
cryptojamey
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@Jeff_Cryptopop, Yep. RSI heavily overbought on the 1H. Expected it to stop around 6700-6800. It could make a short term bull-flag with a max of 7200. RSI on the daily has moved out of the oversold site witch means there is room to go lower. Target still 5K in my opinion :)
Jeff_Cryptopop
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@cryptojamey, I agree. 5000ish seems to be the mid-term position, even if it does bounce up a little.
Overbought again, loving the updates...you have been on point with the short term predictions. I'm looking at 5K around end of August to start of September.
cryptojamey
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@evo180sx, Thanks mate. Could be a bit earlier though. Maybe at the end of July.
MaaporM
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Alteroc
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Your thoughts?
cryptojamey
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@Alteroc, Probably going to test the 6K level and might have a short-term bounce of it. Big even numbers (5K, 6K, 7K, 8K etc.) are huge psychological barriers and act as huge support or resistance. My personal target is still 5K (see my other analytics).
Alteroc
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@cryptojamey, Thanks for the reply. I also think 6k must be retest at least if not lower.
A fractal view for fun