Bitcoin Technical Analysis: What are Support, Resistance and Up Trend Values?

Bitcoin Technical Analysis: What are Support, Resistance and Up Trend Values?
Bitcoin Technical Analysis: What are Support, Resistance and Up Trend Values?

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: 18.02.2018)

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

Bitcoin Technical Analysis: What are Support, Resistance and Up Trend Values?

We have left behind a week in which the crypto money market has recovered quite nicely. During the week in general, the crypto money investors took a deep breath after a hard correction. BTC is in the beginning of the week $ 8080 at the weekend $ 11250 and it is still clear that it has taken an important step in establishing an atmosphere of confidence in the on-line market. Week closing $ 10690 BTC 32% it was worth it. Let’s take a look at the technical situations that took place during the past week and evaluate it.

I mentioned in the previous article that there is no problem in the descending wedge formation. Previous week to price movements in chasm B he could not switch inside the block. This week with incoming purchases B the transition from the lower wedge to the wedge was accomplished. B enclosed FIBO 0.236 ($ 9235) (I would like to remind you that I have updated FIBO levels to $ 5900 dib). With the purchase continuing B we see that the upper stride of the block is broken up. With this level breaking up, the FIBO continued to rise to the level of 0.382 ($ 11279). On the last day of the week, B there has been a decline to the top of the block. Here comes the reaction from the price $ 10690 watching. Let me review this in the light of the developments.

The rise that took place this week is not uncommon with us. I would have liked to see similar movements 2-3 months ahead of time, but I have also mentioned in my analyzes. In the last two analyzes I tried to draw attention to these similarities. I focus too much on the volume on the chart and the RSI indicator on my chart. If you pay attention to the changes in the one week graph you are going through, you will notice that there are quite similar movements (especially the RSI indicator). If we are going to touch the wedge formation; it is already B I think it is very positive that the wedge is broken up. Our first resistance above the positive market FIBO 0.382 ($ 11279) level. If this level is broken up to the block will be our upper trend (main falling trend) target segment. to I think that it may be possible to come back to the one after the wedge uplift (the fall to the top of the block and the reaction from this point). In conclusion to I think that the movements in the uplift of the wedge will harden towards the ascension. Our first support in adverse market conditions B the wedge will be the top trend. If the re-wedge is switched FIBO 0.236 ($ 9235) level should be in our watch. Breaking down this level will increase sales pressure. Queue to B the chock and the chock will come into the day as support for the bottom trends. If it is the last pen FIBO 0 ($ 5930) is level.

Bitcoin Technical Analysis: What are Support, Resistance and Up Trend Values?

This week we will be reviewing the WMA indicators WMA 21, WMA 200 and WMA 144 ‘ we see that the break-up of the third place is taking place. For the medium and long term we can say that it is a very positive view. With the price increase WMA 21 In WMA 200 , 144 and 89 ‘Respectively, will be positive for the upside. It is already WMA144 As support for the price to watch this level seems quite positive.

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