Quick preview of my past TA - Bitcoin Technical Analysis - 03 April 2018.
The last time I updated, I have expressed that failure to breach the $6.4k - $6.7k zone will bounce the price back up to $6.4k zone. Looking at the price chart, the price bounced back as expected up to $6.58k and it is currently at $6.85k.
The previous ABCDE corrective wave was invalidated due to the failure of breaching the $6.4 - $6.7k zone. I have adjusted the ABCDE corrective wave, supported by the 4-hr RSI and MACD indicators, as shown below.
I am expecting for one more dip up to $6k zone before the bullish run. However, clear breach of $7.7k zone followed by $8k zone will invalidate the current count.
Looking at the 30-min RSI, it shows that the bears are weakening as we are getting higher low RSI but lower low price, thus, it further support the bullish move in the mid - term.
Short - term price movement: Bearish
Mid - term price movement: Bullish
Disclaimer
This is my personal view and I don't claim it to be a professional financial guide. Your decisions are only controlled by you and only you. Listen to what others say, but don’t believe everything that you hear. Research, analyze, and think. In the end, you can only thank yourself for believing in something that is true. Likewise, you can only blame yourself for believing in something that is false.
Want to earn more?
Earn through SMARTSTEEM - guide
Earn followers and upvotes through STEEMFOLLOWER
Earn through mobile mining - Electroneum
Earn through games:
Cryptomininggame - browser game
Aethia - Ethereum game
Bitcoin mining game
Magic bitcoin farm
Dino park game
Cash zoo bot
Guide for newbies:
Trading Strategy 101 – Understanding Cryptocurrency Volume
Trading Strategy 101 – Understanding Order Books, Buy Walls, Sell Walls, and Fake Walls
Trading Strategy 101 – Using 3 Moving Averages
Trading Strategy 101 – Support and Resistance Zones Strategy Guide
Trading Strategy 101 – Easiest Bitcoin Trading Strategy
Crypto Guide for Dummies - Avoiding Beginner's Mistake
If you liked this post or it helped you in any way, please upvote, follow, and resteem so that more people can learn about this information! Thank you!