Bitcoin: Possible Signs Of A Further Rally

in #bitcoin5 years ago

Bitcoin Daily (1)

  • we're holding above the 21 day EMA (yellow) for now
  • notice how the RSI approaches the 40-ish mark, where we saw a few bounces before; actually all our rallies started from this RSI level in the last months, so it might happen again
  • the MACD indicates a rejection at the signal line and an increasing bearish Histogram

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Bitcoin Daily (2)

  • it looks like we're building a symmetrical triangle, which can break either way
  • we broke Ichimoku's Tenkan and are heading again toward the Kijun, still having a thick support-cloud below us
  • the OBV also indicates a symmetrical triangle and it usually leads the way, breaking the support/resistance before the price does, so keeping and eye on it could turn out to be pretty wise

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btcdaily2.png

Moving Averages

  • the Daily chart: we're finding support at the 21 (yellow) EMA and will probably revisit the 34 (purple). As I said in my previous posts, our next bigger corrections will take us to the 55 EMA (blue) and perhaps to even lower levels, such as the 200 day MA (grey)

  • the Three day chart: for now, we're finding support very clearly at the 8 EMA (brown), with wicks extending to the 13 (green) and finally have the 55 (blue) crossing the 200 (grey), which in 2015 marked the beginning of the bull-run, with the price finding support at the 55 every now and then

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btcmas.png

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As I said in my previous posts, our next bigger corrections will take us to the 55 EMA (blue)

And here we are:

btc now.png