Bitcoin - What's Next?

Hello,

Let's get right into it:

Daily Indicators:
1-D time frame
MACD: Bullish
RSI: Near oversold - Bullish
Coral Trend: Bearish (Delayed)
Notes: Ok, so the target mentioned in the previous analysis was reached (7900$). A rebound occurred, but I expected a stronger reversal. Hence why I'm not confident that this is the bottom.

Weekly Indicators:
1-W time frame
MACD: Bearish
RSI: Neutral, but broke previous support levels so more towards Bearish.
Coral Trend: Bullish (Delayed)
Notes: The Weekly MACD isn't looking so good, so that supports the fact that this might not be the bottom (The relatively weak reversal)

Monthly Indicators:
MACD: Bearish
RSI: Bearish
Coral Trend: Bullish (Delayed)
Notes: The RSI is near the overbought area, also the MACD is starting to concave down.

Personal Opinion:
We might see a bullish uptrend on the short-term, since our daily indicators are bullish. However, I'm expecting a further downtrend on the long-term as shown in the weekly adn monthly time frame.

Previous analysis where the exact target was called:

@DCFreak

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Here is the 15 min time frame:

We can notice a bullish divergence on the MACD. However, if that breaks, I expect the price to drop to the lower support lines.

Kommentera:

Went down and touched both support lines as in the mini update above!
We are always one step ahead of the market!

Target is still 6900$ will make sure to update you as soon anything changes.

Trade stängt: målet nått:

Going to close this trade as target is reached. This isn't a buy signal or a reversal confirmation. A drop below this line would take us to much lower support levels. If the support is broken I will make a new update. For now, target is reached.

Dailly, and Monthly MACD are still bearish, which isn't a good sign, so be careful.. we are not bullish yet.

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Kommentera:

I'm seeing a bearish div in the 1hr frame.