Bitcoin Oracle - 4 day prediction
Updated
Scenario #2 was activated!
Indicators
Lower Bollinger Band touched.
RSI around 55, just had a downtrend, hence uptrend more likely.
MACD signal line is sloping down signaling lack of volume.
-> 2 of 3 indicators signal a bounce up, hence the incoming resistance retest is very likely to happen next.
TA Magick
To arrive at forecast date I drew one buy and one sell trend line. The buy trend line touched the resistance area around 13th July and the sell trend line around 23rd July; I calculated median value between the two (4.5 days) and thus landed on the 17th July for an estimated resistance retest.
Indicators
Lower Bollinger Band touched.
RSI around 55, just had a downtrend, hence uptrend more likely.
MACD signal line is sloping down signaling lack of volume.
-> 2 of 3 indicators signal a bounce up, hence the incoming resistance retest is very likely to happen next.
TA Magick
To arrive at forecast date I drew one buy and one sell trend line. The buy trend line touched the resistance area around 13th July and the sell trend line around 23rd July; I calculated median value between the two (4.5 days) and thus landed on the 17th July for an estimated resistance retest.
Note
Feels like bitcoin will bounce up soon!Note
Recent drop could be a bear trap aligned with the recent US congress news and their "Keep big tech out of Finance Act".chepicap.com/en/news/11198/proposed-bill-may-prevent-big-tech-firms-from-launching-cryptocurrencies.html
quite bullish news for bitcoin!
Trade closed: target reached
Despite bullish news, seems trump tweet and Libra smooching with regulators, bear Scenario #2 was a validated.
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