Bitcoin and other cryptocurrencies are crashing. There is a lot of damage in the technical situation. All of a sudden Bitcoin/USD crashed to a support line in SMA. Bollinger Bands indicate an oversold condition and a similar level to a prior decline. If the SMA and the support line in the Bollinger Bands can resist further decline, then the first target is breaking the red line, which currently stands at a level of 2140-2150. This is the first step to smooth the downtrend. If the Bitcoin hits the red line but falls back a new decline is under construction. The decline can reach 1174 in the short term but that's a bit exorbitant, I calculate a decline to the 1500 level is the most realistic scenario. This green line has an 'age' of 2 years and has to provide reinforcement, but only if the price falls below the 1800-1812 range (SMA support zone). The least we can say, is that the bitcoin price is located in a desert storm between bulls and bears. The present situation gives potential bulls on the short term a million-to-one shot by forming a small hammer, but on the long term bears a going to push the price down.
Please visit my website for more technical situations combined by fundamental analysis: http://www.succesvol-en-veilig-beleggen.com/technische-analyse
Please visit my website for more technical situations combined by fundamental analysis: http://www.succesvol-en-veilig-beleggen.com/technische-analyse
Handel aktiv:
I'm short @ 1900.15
Kommentera:
The rebound of the bulls resulted in a lower top in the long term perspective.
Kommentera:
Low leverage in my short position. Rebound to the red line and then downcross!