Topic: Bitcoin Update April 27 (Read 125 times)
So a random post with nothing but guesses and a somewhat official sounding username. I don't see why your data should be even looked twice at.
Yes, i think this fall is preparing us for another bull run. And this might be huge. We just have to hang on tight. No panic selling. lets tell the people to hold their coins instead of selling it low. Oh well, as if its that simple. People are always scared of losing their hard earned money. Oh well who isnt. But we know this will turn around again as usual. Bitcoin always recover.
Well, in that case it is normal things that we are possible experiencing downfall. The ups and down of it's value is the usual way of it's fluctuation but the worst thing that are possible to happen is when the downfall is again continuously exist for a long period of time and again it may cause of being nervous and do panic selling of the most people. However, I think that it won't be like that because I believe that after this a little time of downfall it will rising up again quickly and maybe it is only preparing for upcoming bull run.
Consolidation occurring during the down move. Stronger support below at $8.4k.
PRICE ACTION LEVELS
Resistances - Price has fallen below the $8.9-$9.2k zone of support, making this the first zone of resistance as we rise back towards previous high. Above that the $9.75k zone, in line with the .382 fib, will likely give price a fight as it rises towards $10k.
Supports - Price is above a stronger zone of support from $8.6-8.4k which is in confluence with the .618 fib.
INDICATORS
Moving Averages (same situation as yesterday) - The ever important 200 MA on the daily chart is now lined up with a zone of resistance we have from $9.8-10k. A break above this would be huge for bullish confidence. We also now see the 200 EMA acting as support as prince pinballs between these two indicators.
Ichimoku Cloud (same situation as yesterday) - The 4H cloud has provided perfect bounce support off the kijun. We will see if this holds.
Oscillators - A bit of a concern, we see the daily RSI has fallen back below to the historic level of bearish movement. That said, the RSI is not a fool-proof, all-revealing indicator.
Conclusion. Price is losing momentum in the move downwards, consolidating for the moment.
An uptrend is defined by higher highs and higher lows, the higher high above $9.2k is the start, now it is nothing but necessary that we post a higher low. Until we break below $7.8k there is nothing to worry about
Twitter: @BoomerCapital
Website: boomerangcapital.org
PRICE ACTION LEVELS
Resistances - Price has fallen below the $8.9-$9.2k zone of support, making this the first zone of resistance as we rise back towards previous high. Above that the $9.75k zone, in line with the .382 fib, will likely give price a fight as it rises towards $10k.
Supports - Price is above a stronger zone of support from $8.6-8.4k which is in confluence with the .618 fib.
INDICATORS
Moving Averages (same situation as yesterday) - The ever important 200 MA on the daily chart is now lined up with a zone of resistance we have from $9.8-10k. A break above this would be huge for bullish confidence. We also now see the 200 EMA acting as support as prince pinballs between these two indicators.
Ichimoku Cloud (same situation as yesterday) - The 4H cloud has provided perfect bounce support off the kijun. We will see if this holds.
Oscillators - A bit of a concern, we see the daily RSI has fallen back below to the historic level of bearish movement. That said, the RSI is not a fool-proof, all-revealing indicator.
Conclusion. Price is losing momentum in the move downwards, consolidating for the moment.
An uptrend is defined by higher highs and higher lows, the higher high above $9.2k is the start, now it is nothing but necessary that we post a higher low. Until we break below $7.8k there is nothing to worry about
Twitter: @BoomerCapital
Website: boomerangcapital.org
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