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.
http://i86.photobucket.com/albums/k82/mrjackbui/1_zpsprt28r2y.jpg
Dear
Mr.Jack
Topic: ANALYSIS OF BTC/USD DAY 05/03/2018 TO 12/03/2018 (Read 142 times)
Jump to: