I. ANALYSIS CHART (D1)
1. The other day after creating the reverse shooting star candle BTC quickly dropped from the highest location $11,239 down as low as 11,200 and handles the session yesterday at the $10,450 (recorded on Bitfinex).
2. So the price plummeted accompanied by large trading volume. So, if nothing changes then today BTC continues to decline.
3. As such, can after creating reverse shooting star candlestick, the BTC if falling in waves to adjust. Usually the waves tune will fall on the 38.2% to 61.8%. However, if the ORGANIZERS really falls into waves tune doesn't fit in with the trend of the BTC on the week. As such, the ORGANIZER must quickly increase sharply further to overwhelm the factions don't SELL BTC continues to go green on red 2 1 chart week. So, if the ORGANIZERS go so then the tuning of about 8900 $-$9100. The worst case model Head and shouder is $9250.
4. the Bollinger bands on the opened, bands between ramps up pretty good. Candle cycles are red green 2 1 D1. Very possible today and tomorrow BTC create 2 green candles and break the downward trend channel cut 1 day to adjust and then continues to conquer new heights. If so, then the frame will fit the rising momentum of the ORGANIZER as well as the "harvest" season is coming.
5. As such, the need for strong and rapid increase in candle on coming to rationally from the frame. However, all also depends on BTC have sufficient break through the lower channel or not.
6. The price after the asymptotic reduction trend channel touches have created reverse shooting star candle and continue to fluctuate in the lower channel. The most important is now flying through the lower channel of BTC and formed out of the uptrend will follow a more logical sequence 1.
7. ADX are signaling sideway.
8. Stoch are for uptrend and not fall into the region too buy.
9. The MACD is rising and the Histogram is shrinking gradually. If the Histogram space shrink gradually as close to line 0 as possible but don't be under the line 0. And the MACD line 2 does not cut each other down then the BTC still retained the momentum of increase in the time to come.
10. Cash flow of MFI are currently demonstrates 67 investors still believe in the BTC.
11. If this week should not play on BTC $10,550 then so can the ORGANIZER will continue the trend. Thus, the necessary and sufficient condition here is that the trading volume during the week rose and BTC gotta lower channel and close the candle the week (W1) on $10,550.
• Conclusion: the current trend is increased according to the technical indicator and is located in the lower channel. So, to synchronize between the technical indicator and Price action, the BTC to break the trend and the channel closed on week candle $10,555 and accompanied by good trading volume.
II. ANALYSIS of the H4 CHART (4 HOURS)
1. On the frame of 4 hours of the technical indicators are for the downward trend.
2. Cash flows of the MFI only 36.71. So, after the candles on reversing candles shooting star appears, the investors have pretty much flushing.
3. reduced tendency supporters still ADX when ADX is 27 and DI-is 25.
4. on the 4-hour chart, we see that BTC broke the uptrend channel and are experiencing barriers around $10,200. In this position the BTC usually will take the 2 options:
-Option 1: BTC will rise back to the $11,250-$11,400 to test your trendline uptrend channel after the break and reverse model Head and Shouder and BTC continue the cycle steady.
-Option 2: sharks waiting to make investors because everyone anticipated release out early models 2 role of coming and from where pushing prices downward trend channel break fast and pulled away for a price range quite far from the break.
• Conclusion: BTC on the H4 chart is in the downward trend. Delay in action back if the BTC were channel trend falling around $11,250.
III. LEVEL OF SUPPORT AND RESISTANCE
1. Level of support
-Important support level: $8200-$9100-$9300-$9580-$10,150.
2. Resistance levels
-Important resistance level: $11,400-$11,945-$13,000-$13,860-$16,000.
IV. CONCLUSION
1. Thus, under the frame of the BTC week was reversing from the downward trend to rise and very likely in the coming period will conquer at least $17,900 and if the old top break BTC will fly high and far more numerous.
2. After the asymptotic approach on BTC trend channel was reduced when the head of the MACD Histogram has divergence with price. Thus, the adjustment is reasonable for the rising trend of coming back.
3. necessary and sufficient conditions is the BTC were channel trend rising around $11,250-$11,400 and closed the week on $10,555 candles and attached to the volume is quite good, the whole very logic and upcoming market will look bright.
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