Bitcoin - Retracement
Actualizado
Bitcoin has now given an opportunity to get in at a low price. What now?
RSI Bullish Divergence is currently signaling a short term price reversal and a high probability of it reversing back down.
Levels of potential reversal will be at the Fib levels.
No one knows where it might start to reverse, but trying to determine where the most probable level of reversal, we look left.
The blue rectangle goes back left to where price had found support starting at the $7750 up to $7820.
The 0.5 Fib Level is the level I will be checking to see a price reversal, but will definitely watch every move of Bitcoin.
If the momentum or strength starts getting weaker and RSI is painting a bearish divergence, that will be the signal to get ready to plan an attack for going short.
We'll cross the bridge when we get there. But for now, the focus of attention is at the current RSI Bullish Divergences and pay close attention to what price does.
Note worthy:
0.786 and the Golden Ratio Fib Level 0.618 are common levels of price reversal.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
RSI Bullish Divergence is currently signaling a short term price reversal and a high probability of it reversing back down.
Levels of potential reversal will be at the Fib levels.
No one knows where it might start to reverse, but trying to determine where the most probable level of reversal, we look left.
The blue rectangle goes back left to where price had found support starting at the $7750 up to $7820.
The 0.5 Fib Level is the level I will be checking to see a price reversal, but will definitely watch every move of Bitcoin.
If the momentum or strength starts getting weaker and RSI is painting a bearish divergence, that will be the signal to get ready to plan an attack for going short.
We'll cross the bridge when we get there. But for now, the focus of attention is at the current RSI Bullish Divergences and pay close attention to what price does.
Note worthy:
0.786 and the Golden Ratio Fib Level 0.618 are common levels of price reversal.
Only trade the breakouts to be safe and not be sorry. Wait for confirmation of price direction prior to putting in your trade.
Remember to always, always place your stop loss at the appropriate levels immediately after you have put in your long/short position so as not to get wrecked with your trades.
>>>>> Always be prepared for either scenario of upwards movement, downwards movement, or sometimes even sideways movement (consolidation phase & sometimes even extended consolidation phases). <<<<<
Constructive and positive comments are welcome. Be courteous.
Consider leaving a like after viewing my post, and click on Follow to receive my latest and updated posts.
More Power To All Your Trades,
Ron (The Intrepid Trader)
Nota
Watch this price behavior... The RSI Bullish Divergence may seem to be a signal for a price reversal, but which may in fact be a premature one. Price may go up a tad bit but then it would still have further to go before a more substantial price pump.Nota
The RSI on the Daily Chart still has a bullish divergence.Bullish Divergences will have to eventually be fulfilled.
Nota
The Daily Chart has a Falling Wedge and may take an entire month for price to break out of it to the upside if price doesn't breakout to the downside first before it reaches the top side of the falling wedge.
Nota
Price is ready to move to the upside. All signals are bullish. Nota
Price has been consolidating for a while now and has shown strong bullish signals.
Nota
Golden 0.618 Ratio Fibonacci Level has been reached.Nota
Price now headed for the blue rectangle target zone.Nota
Bulls are going strong.Nota
(Golden Ratio) 0.618 Fib Level @ $7698 target reached.Nota
(Blue Rectangle ): $7,760 - $7810 targets reached.Nota
Next Fib level .382 reached.Nota
Next Fib level .236 @ $8100 reached.Nota
Amazing move, no signs of weakness yet.Nota
The Bulls are furious!!!!Nota
17.89% price pump so far!Nota
Resistance hit!
Nota
Massive, Massive, Massive Gains!Nota
Price pushing past 1.272 Fib level. Truly insane!Nota
Price now broke through 1.382 Fib Level! Incredible!Nota
Bulls have been exhausted for now.Nota
What's going to happen next?
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