Bitcoin: Nice attacks from Bulls but Bears resisting

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Bitcoin: If you followed my presious chronicles here is where we are. Be carefull and alert. We may have see the bottom signifying the end of a correcting cycle but doesn't mean it cannot be retested if bears manage to hammer bulls down from next high. Or maybe that resistence is already the next high. I don't know.
評論: RSI look already gone
評論: Hope that upper channel support
評論: There is a lot of congestion just below that resistence
評論: Always be aware in which timefrime price provide signals. It's important to get the timing right for understanding when you will have to pull the trigger. lol
評論: 5min divergence with RSI when approaching that resistence
評論: May go for the lower band of the upper channel from that high
評論: After the divergence it is looking for support
評論: 10.200 looks supported
評論: Let's wait and see. Be patient
評論: Just be carefull
評論: RSI is shooting and price is not following stopped by that resistence
評論: It may present us a nice scenario but we need to wait and be alert.
評論: Let's look at the 15min chart...
評論: Same as before...the attack is still ongoing
評論: look at RSI
評論: may that be a support for a little push? I don't know
評論: the 11.400 strong resistence is very close
評論: RSI is not high enaugh yet
評論: Where are the volumes?
評論: Pushed back
評論: Let's see if supported somewhere
評論: It's preparing it's next move
評論: Let's look where we are in the 30min chart
評論: 1min chart volume increasing
評論: be patient
評論: Let's see 30 min chart
評論: Are those volumes enough to make it go higher for a little bit? I don't know
評論: Bulls have not won yet
評論: Let's see for a retest. Let's see
評論: I don't like it. It shuold have gone much higher with that move
評論: Maybe we need to wait for more volumes to accumulate? I don't know
評論: This is due to strong bearish pressure
評論: Where are the volumes in the 60 min charts?
評論: back to the 5min chart
評論: little divergence with RSI
評論: Let's see if with the help of moving averages we can get more clues.
評論: Judging by the moving avarages 100SMA and 200SM we have a nice golden gross meaning the trand long term has changed but in my view we it still need a low to conferm this possible new trend
評論: This is why it very important to be carefull.
評論: Ok...remember my post on the golden cross?
評論: That signal was found in a 15minute chart
評論: That signal originated a little upper channel remember?
評論: That helped the price to get where it is now
評論: Now we discover another golden cross made by longer SMAs
評論: I don't know but if that 10400K resist and price 11.000 we may see a move confirming that bigger channel. I don't know. Just an idea. What is yours?
評論: Sorry, if 11400 resist and 11000 do not support
評論: So far 11200K supporting
評論: Bearish pressure represented by the two SMA coming down and stopping bulls run
評論: If you look at the last 10 candles this is Elliot Wave
評論: 3motvie, 2 corrective up to the SMAs...and then the correction
評論: We need to focus more
評論: After hitting those SMAs price corrected 50% fib of previous candle
評論: sorry "retraced"
評論: Its holding there waiting for a move...its' quite at the moment
評論: Divergence with RSI on 1min chart but only becomes effective if RSI cross the 50 and the cross of the green SMA...bulls may try another attempt there but carefull could make a triple top
評論: Anyway it's a divergence on a dinamic bullish support
評論: But on such a low timeframe need to cross the SMA for the upside to get momentum
評論: The divergence was not confirmed
評論: And priced dipped a little bit
評論: Sorry but platform stopped working for a while
評論: I wrote that 11K would have been a nice support but platform stopped working. never mind...
評論: This has just been published by Goldbug1...let's see his view which sure will spread some light on what is going on...let's read it
評論: Ok...I am done for the day. I need to read this and make these concepts mine. Always be carefull and alert and follow professional traders. Not amateur like me. Thank you
評論: No. Its not trading acrive. I just noted how it developed here. Is that a re-test?
評論: Ok let's wait and see. Too many bulls and bears trap around these days.
評論: Ok. I am done for now. Time for a lunch.
評論: Be carefull. Click on the above and let me know what you think. I know market is doing another things but please be carefull.
You say "This is due to strong bearish pressure". But when look in GDAX there's almost no one selling. It seems to me it's just a volume issue.
@severt, Hi thank you for following. What do you mean? Could you please clarify? Thank you. Your view is much appreciated.
@severt, The bearish pressure comes from the big downtrend we are in
@severt, price is resurrecting from 9K
@severt, it made an higher low which is a good start
cozzamara cozzamara
@cozzamara, and now may try to follow that upper channel...who knows...just a guess...that 11400 is proving to be a solid resistence. I don't know we have to wait if bulls find support before the 11K and see if try again. Don't think so but a triple top cannot be exluded on that resistence. We need to wait
at last we are gong 12393 :)
cozzamara ilkayozcelik
@ilkayozcelik, Hi, sorry I noted you only now. I was concentrated on understanding what is going on
cozzamara ilkayozcelik
@ilkayozcelik, Yes but bulls have been stopped again
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