Bitcoin 3.94% can not decide where to go from MPP of last month.
I will continue to select the downtrend approach.
1-1) It rise to MPP (P) near 6641.8 and MPP (P) is functioned as a resistance line.
short.
The first limit is on WePP (P) 6225.1.
The second limit is above 6000.0.
There is WePP (S1) 5904.6 under 6000.0, so there is a risk of extending the limit any further.
1-2) It rise to MPP (P) near 6641.8 and MPP(P) is doubtful that it isfunctioned as a resistance line.
Because I think it is downtrend, Long do not be think.
2-1) fall under 6000.0.and It acted as a resistance line.
short.
The first limit is on MPP (S1) 5504.7. (For prudent people like me)
The second limit is on WePP (S3) 5139.1. (For those who believe in reaching 5000.0)
2-2) fall under 6000.0. and It kept going down without working as a resistance line.
We can not do anything. Wait for some resistance line to function.
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Brown thick line: Yearly Pivot Points (YPP in the text)
Light blue thick line: Monthly Pivot Points (MPP in the text)
Green thin line: Weekly Pivot Points (WePP in the text)
Indigo thickLine: Horizontal line or Trend line seen by weekly or monthly
Indigo thin line: Horizontal line or Trend line seen by 4hourly or daily
Indigo dotted line: outstanding double zero
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Red curve: EMA 20 close
Indigo curve: EMA 200 close
Green curve: EMA 800 close
Black curve: EMA 1600 close
x mark: Line which may not function .
Author : fondiea