Topic: [2016-03-23]Bitcoin Price Turn-Around At $420 (Read 241 times)
Long-term Bull markets do not always "obey" chart signals. When the big up move finally happens, many people will be taken by surprise.
Typical indicator behavior as per yesterday?s analysis: the price wave approached its top with MACD (top) touching its upper Bollinger Band and the stochastics (second from top) grouped at their upper maximum. Today?s bounce from the 20MA saw the momentum indicators diverge across the board ? indicating trend exhaustion. Note how RSI (just above price) had diverged (magenta annotation) from the nominal new price high and forced price back below the green 20MA, thereby, breaking the ascending wave?s short tenure.
Let?s remain patient here. The wave up lacks participation, it is overbought and the momentum indicators show the strain with which advance had reached for the 4hr 200MA near $419 (Bitfinex).
https://www.cryptocoinsnews.com/bitcoin-price-turn-around-420/
Let?s remain patient here. The wave up lacks participation, it is overbought and the momentum indicators show the strain with which advance had reached for the 4hr 200MA near $419 (Bitfinex).
https://www.cryptocoinsnews.com/bitcoin-price-turn-around-420/
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