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$BTCUSD – Scenarios to consider for BITSTAMP:BTCUSD by azizelliott

Hi guys! 👋🏻

🔔 Bitcoin keeps the downtrend pace. I still stick to the idea of Show me the chart and I’ll tell you the news, so won’t correlate to any buzz around #BTC or #cryptocurrencies.

🔔 For the past several weeks I’ve been away from cryptocurrency analyses and trading due to irregular activities in the market and I would call this the best decision of the year for me.

🔔 While cryptocurrency is still young, it’s getting adapted to the price movements peculiar to the traditional market. Hence, in this review I will be strictly bound to the technical analysis and show try to explain my thoughts on #bitcoin’s upcoming moves.

🔔 The first, is of course the divergence between RSI and price, usually such divergence signals the reversal of the current trend.

🔔 The second is the MACD indicator, MACD line is about to cross the Signal line which in this case is a signal for an uptrend.

🔔 The third is Bollinger Bands , the channel is way too wide and for the most cases, the price must find a range and stablizie, create a narrow channel before it gains enough power for another move.

🔔 That is why I believe that the range between $17600 and $15900 would create a channel and stabilize buyers and sellers before taking a next impulsive move.

✊🏻 Good luck with your trades! ✊🏻

If you like the idea hit the 👍🏻 button, follow me for more ideas.

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