Bitcoin Possible Weekly Bullish Divergence. ATH END 2018?
Past few weeks Bitcoin has been testing 6k level several times. There have been attempts to break resistance lines and Moving Averages. End of july Bitcoin did break 50 MA and 100 MA, but the 200 MA is still unbeaten. And a 3rd retest of 6k was imminent (with ETF rejections as a reason).
The ichomoku clouds Lead 2(red cloud) is going horizontal paralell with the level of 200 MA plusminus 8000$. This area is currently major resistance.
The reason that this 8k level can be broken is the positive ''news'' thats upcoming during the next couple of weeks/months.
This can be confirmed by the bullish divergence happening on the weekly chart (see below) price level are horizontal while RSI is moving up.
Advice: If youre a experienced trader its your choice to buy at correction short term (daily RSI is overbought) and possibly sell around 8k level. For the less experienced trader the best option is to wait whether BTC is going to pierce through and hold the 200 MA and the Ichimokus Lead 2 (red cloud). Then load up ATH might be before END 2018.
''I dont look to jump over 7-foot bars:i look around for 1-foot bars that i can step over''-Buffet
The ichomoku clouds Lead 2(red cloud) is going horizontal paralell with the level of 200 MA plusminus 8000$. This area is currently major resistance.
The reason that this 8k level can be broken is the positive ''news'' thats upcoming during the next couple of weeks/months.
This can be confirmed by the bullish divergence happening on the weekly chart (see below) price level are horizontal while RSI is moving up.
Advice: If youre a experienced trader its your choice to buy at correction short term (daily RSI is overbought) and possibly sell around 8k level. For the less experienced trader the best option is to wait whether BTC is going to pierce through and hold the 200 MA and the Ichimokus Lead 2 (red cloud). Then load up ATH might be before END 2018.
''I dont look to jump over 7-foot bars:i look around for 1-foot bars that i can step over''-Buffet
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