REASONS WHY I BELIEVE BTCUSD COULD HIT AROUND $5,772 ON THE DAILY CHART.
1. The cloud is negative meaning lower price is expected into the future.
2. The wide gap also indicate high volatility which is a sign of downward movement.
3. Chinkou span make been making lower low
4. Kinjun - sen have define a clear line of resistance at around $13,200.
Note : price may consolidate around this region before the downward movement
5. Target 1 is chosen because of the volume action on 17/01/2018. Market can only move higher only when there is evident of no seller within that region. Hence price must test that region again.
6. Target 2 depepend on price and volume actions when target 1 is achieved.
1. The cloud is negative meaning lower price is expected into the future.
2. The wide gap also indicate high volatility which is a sign of downward movement.
3. Chinkou span make been making lower low
4. Kinjun - sen have define a clear line of resistance at around $13,200.
Note : price may consolidate around this region before the downward movement
5. Target 1 is chosen because of the volume action on 17/01/2018. Market can only move higher only when there is evident of no seller within that region. Hence price must test that region again.
6. Target 2 depepend on price and volume actions when target 1 is achieved.
