Bitcoin (BTC): Finding the Bottom

In the previous idea we defined the current reversal zone as 6950-7100. Overnight the price dropped to 7040, triggering some limit orders:

I still expect the bottom to be formed in the next couple of days. There a couple of technical readings to consider:

• Key Support Area
  
• Bullish Divergence (RSI, MACD)
  
• Falling Wedge pattern
  
• Volatility Squeeze Pattern. When this pattern emerged last time, the price plunged. This time the opposite is expected.
  

Breakout from the wedge may serve as a trigger for longs.

تعليق:

Mind that we may still be missing one wave down as part of Ending diagonal triangle pattern. Be sure to place appropriate (safe) SL orders.

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Stellar (XLM) looks very promising for medium-term trading:

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So far, so good. Important intraday levels here:

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EOS smashed by 'epic' vulnerability reports today. Be sure to set alerts for this potential H&S bottom:

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Correction time, impulse done.