Bitcoin (BTC / USD) CME - Divergence Indicates Correction? - Mobile Lines
Following the price of Bitcoin by CME for days has made it easier to predict possible up or down movements
Let's see
It has been 1 month since I analyzed bitcoin from the CME and it seems to me that it is time, and we can take information about its movements.
Daily Analysis
Analyzing the chart we see that in its bullish cycle, reaching the maximum shows the daily chart RSI and a divergence and begins the correction of Bitcoin
Keys
- RSI 1 day chart shows divergence
- Lose the bullish trend line
- Break support of the average of 21 periods daily
- The price remains on the 50-period line daily chart, which is serving as price support (Good signal)
The important thing would be to control the price of Bitcoin and the MA line of 100 daily periods.
Why?
The 100-period 1D MA line in the CME has indicated a trend in Bitcon's price in the coming weeks.
Fibonacci Analysis
As we see the price has slowed down in the 0.238 fibonacci retracement, if it breaks, the price could reach up to $ 8130 dollars
In conclusion, there are no indicators to define a downward target. But the price of crossing the 100-period MA midline in Chart 1D would indicate continuing the correction. Which is currently at $8520 dollars
What's do you think?
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Protect your assets use Stop loss
The alcoins market is very dependent on the price of Bitcoin, when Bitcoins goes up the alcoins go up more, but also in the other sense, so I suggest that you periodically review a Bitcoin and use stop loss and move it when they are already in profit. Do not let a profit become a loss.
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