Hi,
In my last analysis I was on a bullish bias with the possibility of retesting a string down around 38k. I proposed to monitor the breakout RSI and momentum, which did not take place for the entry into position.
The bitcoin have follow the market (S&P500) and have a very strong bearish structure.
Weekly analysis (BEARISH MOVEMENT):
During the week, we can observe the Kijun is about to cross the falling prices which may suggest a decline in prices to come.
We can see that prices are also crossing the KUMO which could signal a strong bearish state.
The tenkan-sen crossed the falling prices (which is weak bearish signals, but combine with others it’s not good news).
Daily analysis :
We crossed the 200 exponential moving average on January 15, which is strong bearish signal.
We have 3 black crows (Candle patterns, strong bearish signal).
The logarithmic formula of BTC announces a possible rebound on current prices, we could then imagine a rebound to KUMO (pullback) 37281.
The RSI show us a strong oversold area which mean, it can be good for an entry.
Strategy :
If you are short, wait the pullback to the Kumo, if you are long it’s very risky because we are against the strong dominance, but you can try a long to the buy zone 34200 -34700 .
I strongly suggest to wait the momentum indicator, (wait for a breakout !) if we have bearishcross then you can short, if we have rebound, it will be a signal to try a smart long.
In any case be very careful,
Hi,
In my last analysis I was on a
bullish bias with the possibility of retesting a string down around 38k. I proposed to monitor the breakout
RSI and momentum, which did not take place for the entry into position.
The
bitcoin have follow the market (
SP500 ) and have a very strong
bearish structure.
Weekly analysis (
BEARISH MOVEMENT):
During the week, we can observe the Kijun is about to cross the falling prices which may suggest a decline in prices to come.
We can see that prices are also crossing the KUMO which could signal a strong
bearish state.
The tenkan-sen crossed the falling prices (which is weak
bearish signals, but combine with others it’s not good news).
Daily analysis :
We crossed the 200
exponential moving average on January 15, which is strong
bearish signal.
We have
3 black crows (Candle patterns, strong
bearish signal).
The logarithmic formula of
BTC announces a possible rebound on current prices, we could then imagine a rebound to KUMO (pullback) 37281.
The
RSI show us a strong oversold area which mean, it can be good for an entry.
Strategy :
If you are short, wait the pullback to the Kumo, if you are long it’s very risky because we are against the strong dominance, but you can try a long to the buy zone 34200 -34700 .
I strongly suggest to wait the
momentum indicator , (wait for a breakout !) if we have bearishcross then you can short, if we have rebound, it will be a signal to try a smart long.
In any case be very careful,
