BTC/USD - Update 20/05/19

in #btc • 6 years ago

Hey

So we bounced off the price support at 7,100 and the longer term RSI Support.

However, i do not believe this can rally too high just yet.

The daily RSI needs a reset below that support line as it has been held up way too high for too long, i can see us testing out $8,500 neckline again, however a pullback towards the 6,300 region is still likely.

Unless we are to strongly break the neckline, i would be waiting on a drop.

Our previous bear flag chart support has also turned into a resistance, BEARING (haha) all this in mind, i reckon a rejection is coming in hot fireeeee

guess we have to waiit and seee

heres my chart xx

BTC1.png

Legal Disclaimer: I am only as good as guesses and fibonacci , i love to share my information however i am not telling anybody to specifically follow in any of the trades or decisions i make. I win , I lose but at the end of the day i use this all as a platform to share my opinions on possible outcomes and trades i will be completing. Happy Trading!

#bitcoin #cryptocurrency #crypto #analysis
6 years ago in #btc by
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