Welcome everyone, hope you all are doing well.
As we all have seen, BTC 0.31% had a really great rally in the last few days and went upto 9760 on Bitfinex.
In the last 24 hours, it nearly fell a thousand dollars and is back to the point from where it started 2 days back. The short term chart doesn't look good from here.
Let us see some key points here:
*MACD still seems Bearish although the signal is ot evident from wave line.
*RSI is also not strong and is moving in the Bearish zone of 30-45.
*Value of Volume Flow indicator has fallen below Zero which means Bearish state.
*Moving Average(30 days) is supporting near term Bearish movement.
Possible Reversal zones:
(1) 8600
(2) 8300
(3) 7900
P.S: This is not an investment advice, and i am just learning. This is for educational purpose only. Invest you capital at your own risk.
Those who wish to achieve greatness,
never seek for permissions.
They follow what their heart says,
and do what their mind states!
Good luck trading.!
Peace.