It seems like the end of the Bear Market is near.
Bitcoin just broke the downtrend channel on the 4Hr chart but we still need to wait until the end of the day for the close of the candle in the 1D chart,
we need that bitcoin closes above 11425 USDT. If that happen that could be the last confirmation that we have been waiting for.
Also indicators supports this change in the market, they show good sings, there is still room for the
RSI
to continie growing and
DMI and MACD show some Bullish signals.
Even if this is a bull trap now we left a lot of supports behind, so I belive that this time the price will go down a lot more slowly that last time.
This is my first chart publish I hope you guys can give me some feeback if you agree with me or not,
this is not a tradding advice just an analysis of the current bitcoin market for all those that use poloniex.
Adrian de la Garza
Bitcoin just broke the downtrend channel on the 4Hr chart but we still need to wait until the end of the day for the close of the candle in the 1D chart,
we need that bitcoin closes above 11425 USDT. If that happen that could be the last confirmation that we have been waiting for.
Also indicators supports this change in the market, they show good sings, there is still room for the
RSI
to continie growing and DMI and MACD show some Bullish signals.
Even if this is a bull trap now we left a lot of supports behind, so I belive that this time the price will go down a lot more slowly that last time.
This is my first chart publish I hope you guys can give me some feeback if you agree with me or not,
this is not a tradding advice just an analysis of the current bitcoin market for all those that use poloniex.
Adrian de la Garza
it looks like Bitcoin will try to find a strong support, best scenario could be that the 1000 level will be tested and then bonce back to retest the top of the channel. And worst case it will be that Bitcoin retest 6000 level, and form a possible double bottom. Lets see what the market indicates on the following days.
Adrian de la Garza