Hello Dear Members,
With the current market we have to be patient, some times no trade is a trade. If we look at bigger picture we are currently in a neutral zone but we are still at the end of the bear market. As such, we are still focus on protecting & growing USD.
According to our previous charts & as per main chart (top chart) we did retest the FIB 0.618. If we take a closer look on the chart we can see that a lot of uptrends lines were created (blue lines) as such, they will act as a support. However we have to be carefull, each time the volume is downtrend (Red line on the volume) which indicating an inverse move.
If we look at the RSI it is testing the FIB 0.786 and at the same time it will pass in the overbought zone. Bitcoin has still space on the RSI to fall down a little bit (represented by the yellow triangle) & to go retest the trend line on the Fibonacci indicator.
With the current market we have to be patient, some times no trade is a trade. If we look at bigger picture we are currently in a neutral zone but we are still at the end of the bear market. As such, we are still focus on protecting & growing USD.
According to our previous charts & as per main chart (top chart) we did retest the FIB 0.618. If we take a closer look on the chart we can see that a lot of uptrends lines were created (blue lines) as such, they will act as a support. However we have to be carefull, each time the volume is downtrend (Red line on the volume) which indicating an inverse move.
If we look at the RSI it is testing the FIB 0.786 and at the same time it will pass in the overbought zone. Bitcoin has still space on the RSI to fall down a little bit (represented by the yellow triangle) & to go retest the trend line on the Fibonacci indicator.