BTC Decision time soon

2018年3月12日

Disclaimer: noob still learning, a lot of what I deduce from what I see, is likely to be wrong. I do it for fun and to learn.

Anyway, I believe that its best to start on high time frames so ill start with the weekly and work my way “in wards”.

Weekly: Potential ascending triangle forming (not sure if valid)

Candles: possible consolidation in 11.7k to 9.3k after 6k weekly swing low (weekly pivot?)

RSI: Fighting 50 mark. Fell below briefly for two weeks (29/01/18 till 11/02/18) and we had a pretty big dip. Potentially bearing some resemblance to 2014 but I wasnt around then.

Stoch RSI: Bottomed, fighting to lift off

Purple line at 8.7k, previous support+resistance+0.5 fib (fib from september bottom to top)

Red line at 7.5k is 50 week moving average. Do or die support imo, not sure what ill do if we get there.

Daily: nice bullish engulfing on 11/03/18 right at the triangle trendline .

Daily EMAS:
50 and 100 day acting as resistnace at 10.4k
200 day 9.1k support

RSI: attacking 50 mark

Stoch RSI: crossing from oversold.

My personal thoughts: currently got a tiny short in from 9.8k to 9.4k. After that I think im just gonna step back and see where we go. I believe we'll be making a decision soon and i personally would rather wait a few days until we breakout and the move is confirmed. So yeah, for now just holding on and waiting to see which way the next big move is.