BTC Short

١٣ سبتمبر ٢٠١٨

BTC is reaching the main resistance of $6544 (from previous resistance Sept. 7th) and RSI indicating similarly we are approaching over bought conditions. We should expect a healthy pullback at this point. Its a difficult decision when it comes to such points, and here is where FOMO entertains each person.

١٣ سبتمبر ٢٠١٨

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Previous long term forecast

١٤ سبتمبر ٢٠١٨

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We have higher lows just under 6500 where we have hit a resistance with the 4 hr candle. I would imagine there would be side ways trading for now, with a potential squeeze (sym. triangle). Question is where from here. We need to keep an eye on the 1 hr candle and the 4 hr candle to ensure there is no lower lows. Until then, either play it safe and sell, or hold on to this bullish sentiment.

١٥ سبتمبر ٢٠١٨

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The 6 Hrly candle says we have found a area just under 6500 where its now settled in. Now we are now looking for a nice follow through with volume and\or higher highs or higher lows. The 1 hrly charts suggests this now. The daily chart says all is good (bullish) where 6500 is the resistance. The volume will drop off over the weekend and hence we might not break the 6500 over this time, maybe Monday onwards.

١٥ سبتمبر ٢٠١٨

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١٦ سبتمبر ٢٠١٨

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I see another attempt at 6550 which with the current history to fail and then a drop to 6360 as a bounce range. If it goes below this, 6260 is the next support. Between 6260 and 6360-6400 is where I see a potential entry. Don't go in now as its risk for a correction or a resistance range.