Bitcoin Technical Analysis

Bitcoin Technical Analysis
Bitcoin Technical Analysis

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: 11.02.2018)

This chart I have prepared DAILY based graphics. (Each red or green bar represents a day.

Bitcoin Technical Analysis

At the beginning of the week $ 8250 BTC watching the same level at the closing of the week we are following. However, if we look at the movements during the week, we can see how excited and stressful the week is. This week’s BTC $ 5950 to this level. $ 9,000 has experienced really complicated feelings for the rising investor.

In my previous analysis, I noticed that the wedge formed low. This week I will continue the analysis on the same chart. At the beginning of the week according to the falling wedge formation to with the sales coming in on the first day of the week at BTC, to out of the wedge. However, purchases from this level lifted the BTC. BTC located in the oversold territory, FIBO 0.786 . FIBO 0.786 We can say that the level works well as resistance, and BTC could not pass this resistance in the rest of the week. Again to we are seeing that the B the transition phase to the chock failed and unfortunately failed. Let me review this information in line.

You see in my chart there is a sag out of the falling wedge. However, we can not say that the wedge was broken down because it was not permanent except for the wedge, because the price seems to have been re-wedged. I mentioned that the week ahead of the RSI oversold territory should be followed by a possible reaction. If you look at the movements this week, the response in the over-sold territory is about 50% offered a premium. It would not be wrong to say that the oversold territory is a suitable buying area for long-term investors and investors making profit. If we look at the volume bars on the graph, the volume bars in the oversold territory on the RSI indicator look like duplicates.

I think that when you are thinking in the medium term (taking into consideration the previous movements), it displays a very positive image. The RSI chart, on the other hand, has turned upside down with overbought response. Again, I think the positive picture for the medium term. The price to look at the present situation FIBO 0.786 seems to be a bit negative, just below level. Passing this level and staying on it will be an upright relief. With the passing of this level B it will be passed into the block B the block will be our top trending target. In adverse market conditions to we are the first support for the bottoming trend. If this level breaks down, it will be $ 5950 We will have a support zone. Below this level FIBO 1 level should be in our watch.

Bitcoin Technical Analysis

The week we passed WMA 200 We broke the indicator down hard. This week WMA 200 We can say that the price movement which is watching under it creates a negative image. In the last four days of the week WMA 200 we can say that it works as a strong resistance. I believe that this level will be promoted on the upside support and will create a positive image.

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