I. WEEKLY CHART ANALYSIS (W1)
1. Another week went by in the red color of Crypto market. Cyclical on the Weekly chart 1 green 2 red. Maybe next week will be the first red candle after the price break between the Bollinger bands. With huge trading volume on candles week seems BTC not want to stop.
2. The technical indicators on the weekly chart does not support the BTC when ADX falls into sideway. Stoch and MACD trend and cash flow also fell sharply MFI has pretty much escaped.
3. Only Ichimoku still forecasting trends BTC will increase again if on W1 chart reversal pattern forming, the BTC will quickly rise $ 11,400. However, with candles week just created is very difficult to create a reversal candle immediately. So can the BTC will create reversal candle after candle creates feet long when there is enough buying power of the shark.
4. On the weekly chart we see that the BTC has break the uptrend and is in downtrend. The nearest support level at 6600 $ and 4970 $. Usually a trend adjustment strong enough, it will fall into the narrow gap between the 2980 $ -4970 $ is under the technical adjustment.
5. In this region there is a trendline BTC BTC strongly supported around $ 5500 but if BTC hit $ 4970 then draw around the foot and closed Hammer candlestick above should generate $ 5500, you can create a reasonable bottom. Trendline Breaks always the case anymore, I will not analyze because really if the break does not always know when new BTC rise again, the time will be very long.
6. On Bollinger slope great week but still break through BTC. In my experience, the usual self with a steep slope, the BTC will such priorities between the candle-week test bands around $ 9950 is reasonable.
7. If BTC is going corrective wave 4 is about 5500 $ -6600 $ BTC is reasonable. BTC case go wave ABC correction after the completion of wave 5, the MOF can reach $ 4970 or lower depending on the market.
CONCLUSION: Thus, considering candles weeks if BTC touch $ -9950 $ 9400 region this week, then you can look out down command to reduce risks in the market and wait for waves will increase to more nor late. When the market is in decline, the waves analytical finding top floor is just a very low probability of correct and it almost unsafe and contains a lot of risk. In short, buy when the market is rising and sell when the market began to decline.
II. DAILY CHART ANALYSIS (D1)
1. Thus Trendline not support floating curb the decline of BTC. BTC yesterday quickly fell and recorded the highest at $ 9410 and $ 7809 closing low of yesterday's trading session candle closed at 8185 $ BTC. Thus, according to the BTC technical broke the uptrend and possibly after the 8700 $ -9400 $ Backtest BTC will continue to decline.
2. Yesterday's trading volume is quite large and rapid decline BTC. Thus, according to logic 1 blue 2 red is on track. So, today could be the next red candle. However, according to my experience, the 2nd week will generate 1 common platforms. Therefore, I hope that the organizers will up Backtest trendline as expected then plummeted back.
3. In this area is also being supported by BTC asymptotic lower Trendline blue around $ 7900 and if BTC continue to decline, can the $ 7400 161.8% Fibonacci level and deeper then the 78.6% fibo level approach of frame week around $ 6650. In 6272 $ -6650 $ areas is quite strong resistance when the interferometer 2 fibo resistance level of over 2 large frame and the lower trendline.
4. On the Daily chart all indicators are for BTC will continue to decline.
• CONCLUSION: The downward pressure on the BTC BTC sharply after the bullish trendline break. Expectations after falling trendline going back Backtest to exit row. If pressed trader shark restaurant when pressed candle closed below the current Trendline and BTC are touching bottom trendline resistance around $ 7900. If BTC break to this region will reach 161.8% Fibo level at $ 7400 but at this clearance may not be strong enough and priorities for 6272 $ -6600 $ is extremely strong resistance zone. If we continue to break the resistance area appears as $ 5,000 followed by $ 4400 and finally the lowest possible BTC $ 3100 on the day 02.20.2018. Previously I analyzed the day time line is the date 20.02.2018 will peak or bottom. So it is very important dates. That is the worst case scenario could happen. If you do want to make sure they continue to wait. However,
II. Support and Resistance
1. The level of support
- the key support level: 8000 $ - 7400 $ - 6650 $ - 6272 $ - 5000 $ -4400 $ - 3100 $.
2. Resistance
- The important resistance levels: 8800 $ - 9230 $ - 9400 $ - 9940 $ -11 400 $.
CONCLUSION
1. Thus, BTC has decreased 60% from the peak of 19 891 $. Actually those transactions in this market has felt your account greatly reduced. If BTC has decreased less hug, followed altcoin top1 then the top 2, top 3, then you see the horrors of the market.
2. Before I say: "the financial market blood and tears" when the market is rising'm not at you laughing at me but now to make you understand and absorb that statement of mine.
3. Back to the MOF, the current market is in a down trend should all buy orders must follow the short term, ie buying must watch key word is right. When market warming trend Up trend started competition you may hold the job longer.
4. The level of support I've been given quite technical analysis. You can refer to orient themselves.
5. BTC in this region are five positions pretty good support. So you can think twice before acting.
6. The best we wait for the market to buy whatever it Up trend win and do well assured. In the market downtrend is best to sit outside observers or capital divided into a lot of pieces in multiple locations DCA Support.
7. Absolutely no dealings with Margin for the floor would probably Kill margin before the market back to warm. When Kill margin, then you will lose everything.
P / S: Analysis for reference, the strategy used to illustrate the analysis.
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