BTCUSD Technical Analysis 22-9-2017: waiting for a reversal signal
cryptocurrency·@cryptofiatechnic·
0.000 HBDBTCUSD Technical Analysis 22-9-2017: waiting for a reversal signal
I am sorry for the late update. I forgot my password. lol. Anyway, I have not found any reversal pattern for BTCUSD yet. But the price still obeys the trendlines and MA. The MAs have been crossed, so the downtrend is confirmed. Please the TF H4 graph below.  TF Daily graph shows double bottom MACD pattern, the price may make a correction. However, I think the double bottom pattern is not a strong reversal signal that can change the trend. Therefore, I am expecting the price keeps going south in order to form a divergence pattern (MACD). The closest strong support is 324x.xx (MA + trendline + FE61.8) and hopefully, we can see a divergence pattern at this point.  So for any of you who still hold your long position (like I do), keep your positions hedge! May the pips be with you!