Topic: ANALYSIS OF BTC MONTH 03/2018 (Read 175 times)

I. WEEKLY ANALYSIS (W1)
1. BTC opened the last trading session at $ 9579, falling to the lowest at $ 9359 and quickly peaked at $ 11,579 and closed at $ 11,500 (record on Bitfinex).
2. Thus, the end of green week candles are quite beautiful but trading volume is not strong enough to create sustainability.
3. On the chart, the current candlestick chart is a red one with green candlestick. If the BTC follow this logic, this week appears another red candle to complete the logic.
4. Closing the trading session last week, BTC closed the candle on the Bollinger Bands. Thus, the trend is still approaching the Bollinger bands on the previous but usually back to the Bollinger bands before they want to rebound to buy power at $ 11,066.
5. Look at the ichimoku we see that Tenkan-sen has cut down Kijun-sen. This is very bad for the momentum of BTC in the next time whether the price is still on the Kumo and Chikou-span clouds are on the support price for the momentum. Tenkan-sen has not cut off Kijun-sen since 2000$-3000$. Thus, the long-term trend was hampered by the crossing of Tenkan-sen and Kijun-sen.
6. ADX 30 but DI + still only 22 so the current uptrend is not strong and the ADX is head-down, this is still a correction wave. It still takes time for ADX to fall below 20 and then back up and follow DI + or DI- to continue the journey of a rising or falling strong. However, in ADX alone, the uptrend still prevails when the previous waves are strongly rising.
7. Stoch is still declining and not overbought. Therefore, the BTC is still able to adjust further.
8. The MACD is in the bearish trend. The MACD line is still high at over 1000. Normally, if the strong correction signal is around zero, the histogram is shrinking. However, there are no good signals for the MACD as these two lines are quite wide and the histogram is still negative.
9. MFI money flow is only 44.84. As such, we have seen investors no longer trust BTC as before when the long-term capital flow has not been poured into strong but continuously drawn.
10. After a strong fall from $ 19.891, the Fibonacci retracement is 78.6% at $ 6000 and quickly increases to the current around 50% Fibonacci level at $ 11460.
II. DAILY ANALYSIS (D1)
1. Yesterday, the BTC created the Hanging Man candle, a rather weak candle that blocked the uptrend line.
2. With small trading volume coupled with rising prices to create a Hanging Man island, it is possible that BTC will adjust in this area.
3. BTC is approaching Neckline of Head and Shouder (yellow line). At this position is the third touch with the upper resistance of Trendline and formation of candle reversal and the trading volume is not large according to ptkt, the BTC will regress.
4. BTC is still in the blue uptrend channel and the uptrend is formed when the new peak is higher at $ 11,788 to confirm the rising wave with higher peak and higher bottom-bottom.
5. ADX still sideway when these 3 lines are below 25. However, the ADX is below 20. So next possibility will appear a strong wave when the ADX from the bottom up.
6. Stoch is approaching the overbought zone at 80. You look at the Stoch. If the price breaks through $ 11,788 then the Stoch will diverge immediately with the price. So, the momentum is being suppressed.
The MACD is still supporting the rising wave as the MACD is shifting up and the histogram is rising but yesterday's histogram has fallen from the previous day suggesting the bulls are retarding.
8. MFI money flow is 53.32. As such, cash flow is pouring into BTC and if the cash flow is strong enough, BTC will be able to break through this strong resistance at H & S's neckline.
9. Ichimoku is supporting the rise of BTC as Tenkan-sen is located on Kijun-sen and Chikou-span is on the way. However, the uptrend is not strong as the green Kumo clouds have not formed yet and prices are in the Kumo cloud showing the Sideway trend. Tenkan-sen is passing and Span A and Span B are closing and wanting to cross. Therefore, the trend is still preferred as the sideways-rise.
III. SUPPORT AND APPRECIATION
1. Support: $ 8900 - $ 9676 - $ 9950 - $ 10,414 - $ 11,066.
2. Resistance: $ 11,425 - $ 11,626 - $ 11,760 - $ 12,630 - $ 13,300 - $ 15,800 - $ 17,000.

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Dear
Mr.Jack

Soon bitcoin will also show its tariff and bitcoin prices will go soaring flying month, in 2018 this will all be resolved very well indeed.

the part that worries me about crypto in general is that technical analysis actually works. it really doesn't in securities unless there is a fundamental catalyst.

that last part is what i want to see happen. make LN functional. get real social adaptation

support and resistance trading in BTC is easier than it should be

A nice review.

Many traders bitcoin which predicts that the price of bitcoin will experience a large increase in the month of march. ( true or not, I do not know) I am very sure that the price of crypto will rise again in this month.

 

I. MONTHLY CHART ANALYSIS (MN1)
1. Last month BTC opened at $ 10,268 and then the market received a strong storm dragging the BTC price down to $ 6,000 and strong buying power occurred, closing the candle BTC month at $ 10,315 (number recorded on Bitfinex).
Thus, with very large trading volume attached to the price increase very long legs with Pinbar candles. Usually this is a sign that the BUY side is dominating.
3. Looking at the rules of candles month after a candle, the BTC quickly increased strongly in the following months. Candlesticks fell in September of 1977 and BTC continued to create new highs in the months 10,11,12 and January 1/1882 BTC reduced the candle month and February 2018 has just finished candle green month. If, according to the rules of running candles, in the next 2 months in March and April, the market will go up and fall into a strong rising trend that will fit into this logic.
4. The closing price of the candlelit candlelit candlelit candlestick and Kijun-sen will usually hit the two edges with the tenkan-sen around $ 10,858 and the Kijun-sen around $ 10,127.
5. Bollinger bands between the top and Bollinger bands are still open so BTC could rise to test the upper band at $ 12,630.
6. ADX is 63 and DI + 42. So, the uptrend is still quite strong.
7. Stoch too much buying and cutting down. If the bull trend is strong, the index of the stoch is almost no value.
8. MACD supports the uptrend. However, histograms are gradually lowering the uptrend of BTC.
9. MFI's cash flow after over-buying over 80 then quickly fell back and is currently 65. Cash flow is still maintained for the momentum of BTC in the coming time.
10. Ichimoku supports the BTC's momentum as Tenkan-sen is still on Kijun-sen and the price is on the Kumo cloud plus Chikou-span lying on the price line.

II. WEEKLY ANALYSIS (W1)
1. Open last week at $ 10,399 and BTC quickly rose to the highest at $ 11,788 and quickly fell back to the lowest at $ 9280 and closed at $ 9583 (data from Bitfinex). ).
2. Trading volume increased sharply and prices fell sharply and created a rather bad candle for the uptrend.
3. Week candles can go in two logical directions: If the BTC goes in the same direction, we notice that for every green candlestick two red candles will appear next. So if BTC goes in this direction, this candle will close in the red color. If the logic is changed then the candle will go to a green candle with a red candle. However, as we observe candles and trading volumes, this week's probability of producing red candles is much higher.
4. The upper Bollinger closed down and the weekly candle closed below the Bollinger Bands after the previous week's candle-hold on the Bollinger Bands. So, if we consider Bollinger bands alone, Bollinger Bollinger Bollinger Bollinger Bollinger BTC can be sideways or down, and the market is not bright.
5. ADX is 32 and DI + is above DI- and DI + is 23. Therefore, if the uptrend is bullish, wait for the ADX to go below 20 and turn up, the trend will be strong. So, at this point the ADX waves are down so the rising waves can not go very well. As the red wave is weak, unless the ADX goes up again. On this time frame, the DI-wavelength is more beautiful than the DI + wave. It means that if the BTC is down, it will be easier to increase again.
6. Stoch is still down trend and 2 lines% K and% D are still far away, so it takes time for these two lines to cross or may continue to go down over 20. Buy pressure is still selling pressure on the BTC.
7. The MACD is down and the histograms are growing. Two lines of MACD have not crossed each other when the width is still very good and heading towards line 0. So, the trend on the weekly chart of the BTC is still under pressure.
8. MFI money flow after overbought area has quickly fallen and fell sharply to the current time only 47.5. Thus, the investor has quite a lot of discharge and trust in BTC is no longer as before.
9. Ichimoku continued to support the BTC's rally as prices remained on the Kumo cloud plus Chikou-span on the rack and Tenkan-sen remained on Kijun-sen despite the narrowing of the gap. If Tenkan-sen cuts down on Kijun-sen, disaster will likely occur with BTC. Therefore, we hope that BTC does not fall down strongly in the next few weeks if we do not want the whole market to fall into the difficult period of 2018.
III. DAILY ANALYSIS (D1)
1. Yesterday, BTC opened at $ 10,583 and peaked at $ 11,065 and closed at $ 10,315 (on the Bitfinex).
2. Thus, with the large trading volume together with the sharp drop in prices and the hammer, today BTC still has a lot of pressure.
3. BTC has not left the red trend channel. When approaching this red trending channel, BTC reacted immediately and created a hammer candle. A pretty bad candle inhibited BTC's uptrend today.
4. Considering the red down trend channel, we see that this approach is the 4th. Usually, according to experience, the price will approach the 4th time, the ability to break the trend channel is quite high.
5. Bollinger bands are still on the upper bands of Bollinger Bands. Bollinger bands are still supporting BTC's uptrend. Bands on the sideways, bottom bands going up and bands between the sloping up are supporting the BTC around the upper bands and the middle bands: $ 9950 - $ 11,650.
6. After the cloudy Kumo time is pulling the price is drawn near the cloud, the current two lines create Kumo cloud is sloping down. However, Chikou-span was on the price line plus the Tenkan-sen on the Kijun-sen, the uptrend is taking precedence, but the upward momentum is weak when all the prices and indicators are under the Kumo cloud.
ADX still signals Sideway when 3 ADX lines are below 25.
8. Stoch is heading to overbought zone 80 and there are signs of contraction.
The MACD as well as the Stoch are supporting the uptrend but recent days continue to break when the money is pushed in unexpectedly. The histogram is still above 0 but the pole is gradually lower so MACD is supporting the slight uptrend of BTC.
10. Money flow MFI yesterday was over 50 but today only 49. Cash flow is being released a little when BTC approach approaching upper trend channel.
11. BTC is going Head and Shouder model so if Break is yellow neckline then BTC is likely to be $ 17,000 to complete this model. In case of neckline retracement, BTC is still moving in the triangle pattern with the bottom border is the blue trendline and the upper border is the yellow neckline.
IV. SUPPORTING BENEFITS AND GENERAL APPRECIATION
1. Support: $ 8200 - $ 8900 - $ 9668 - $ 9950 - $ 10,127.
2. Resistance: $ 10,735 - $ 10858 - $ 11,430 - $ 11,620 - $ 12,630 - $ 13,300 - $ 15,800 - $ 17,000.

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My bitcoin wallet:
1A5Yk6FC4K34qn2Jb46Exqa1D3Zc2ytCnP
Thank You.