1. Look into candles again today week also ends probability created 1 red candle is very high. With a large volume of transactions and sales are strong. Likely will start for 1 cycle deep correction.
2. Trading volume yesterday is not large and rising prices, this case is capable of shark pulled up to discharge for all rows.
3. Candles Daily yesterday in the palm candle previous closing prices less than half of the previous candle. Thus, the downtrend will be given priority when children are caught in the palm candle candles mother.
4. On the Daily chassis from Stoch to MACD, ADX are from MFI to override BTC downward pressure.
5. Tenkan-sen had their heads down on Kijun-sen pulled tight, this is a sign of the trend correction will be given priority. However, prices are still fluctuating on Kumo and Chikou-span remains on a downward trend in prices should frame adjust Daily trend of the previous trend.
6. At the 4 hour chart we have, Stoch and MACD adjusted. However, the MACD Histogram cylindrical lower. This is not good for signal increased current.
7. Cash flow MFI is 46, it is likely investors continued discharge of BTC in today and next week.
8. Main ADX 41, DI 26 very strong downward pressure on the BTC today.
9. Prices are on the asymptotic approach of the red downtrend channel and sold very quickly. This is a very bad signal signaling BTC also plummeted.
10. Price is below the Kumo, combined with Chikou-span is below the price, Kijun-sen plus Tenkan-sen is located on the first and pointed down. Therefore, the trend will continue to decrease in BTC today and possibly next week.
11. After the BTC approach between the H4 Bollinger, prices quickly dropped. Normally when prices reach the middle and lower Bollinger then at least touch the lower band of Bollinger.
12. Thus, given the ABC Elliot wave A and wave the $ 10,700 was adjusted to $ 14,999 may also be deemed to have qualified wave B. Thus, wave C is the point we bought soup.
II. Support and Resistance
1. The level of support
- The key support levels: $ 9,500 - 8,500 $ - 8,050 $ - 7,200 $.
2. Resistance
- The key resistance level: $ 14,200 - $ 15,000 -16 500 $ - $ 19,000
III. CONCLUSION
BTC in big cycle is still rising, expected in 2018 BTC will increase the $ 30k or higher 39k5 $. However, in the present time is in the cycle BTC adjusted. BTC has the ability to wave around $ 11,000 A complete. BTC can further beautify the group to have its price HOLD, wave C will wait for the group to buy aggressively and Hold long.
IV. STRATEGY
Wait wave C is complete. The exact figure will update after I approached the buying price.
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