Dear friends, here is the investment information, comments and evaluations Not in the scope of Investment Consultancy . The analyzes and evaluations I have made are based on technical data. (Analysis date: 25.02.2018)
This chart I have prepared DAILY based graphics. (Each red or green bar represents a day.
BTC $ 20000 of the historic summit $ 5900 with a downward trend. $ 5900 Within two weeks with the rising wave from $ 11800 up to %one hundred it was worth it. After this strong upward trend, this week $ 9250 a decline has occurred. Now the question in mind is this a correction or a continuation of the bear market? Let’s look at how we look technically in the continuation of our writing and answer our questions.
If we make a weekly assessment; next week $ 10400 BTC starting from the level of $ 11800 level. At this level to we see that the wedge works as resistance to the top trend (our main falling trend). The ” doji evening star “The wax formation is a strong indication that a decline will come from this level. With the increase in sales coming from this level, we see that the price has fallen to the upper trend of the B chock. Price B showed that it was working properly, supporting us on the top trend of the wedge (I think it prevents the hard price movements from breaking down). On the closing day of the week, we watch on the FIBO 236 ($ 9242) support. Let me evaluate it in the light of these developments.
5900 $ ‘ from $ 11800 I think that it is normal for such a fix to come after the move (100% margin). If you go back a bit on the BTC chart, RSI 30 (In technical analysis, I think it is very important to look at past movements, it is definitely a guideline with not being a guarantor of one-sided realization).
If you look at the green boxes on the RSI indicator, you will see the movement look similar. This fix does not work hard and FIBO 236 ($ 9242) it is quite positive that it does not hang below the level. FIBO 236 ($ 9242) the level below should be our first and most important support. This support should be followed by the second support of the upper bend of the B-board. I am evaluating the increase in sales pressure in the downside of these supports. If the market direction is upwards, the first resistance zone will be upward and the upside resistance will be the top trend. You will see this trend three times in return. I can say that the uptrend of this trend is very important for the beginning of the bull market. I am evaluating the movement of the market (in terms of subcoins) with the trending upward break. When the fall breaks down, we are the first resistance above FIBO 382 ($ 11287) level. If you are above this level FIBO 0.5 ($ 12939) level should be in our watch. I think the direction of the RSI indicator is negative but it is positive to watch it at an average value. RSI 70 the price movements on the market have become severe and there are serious profit margins 70 I think you should be well followed when it comes down to it. (Examining the incompatibilities in the past RSI movements will help you make purchase and sale decisions).
In WMA indicators WMA 144 we see you are broken down. The price is already available WMA 200 we are pretty close. I appreciate the fact that this level is working as a resistance and the response from it will be positive. If the movement takes place in this way, it will become a confirmation screen for the ascension. WMA 200 I think that the sales pressure will increase for a while if it is broken down.