Bitcoin breakout struggle and price movement prediction
bitcoin·@kcherukuri·
0.000 HBDBitcoin breakout struggle and price movement prediction
 https://www.tradingview.com/x/qWyHeQsS Bitcoin breakout struggles: I assume there is a struggle happening in bitcoin recent price movement. There are few support levels downwards 5850, 5450, 4950, 4000, 3450 and 3000. And there are few resistance levels upwards also. 6850, 7750, 9000 and 10000. RSI seems like it hold at crucial support level 30. In all these factors MACD has almost flattened. RSI and MACD are showing some diverse movement slightly where RSI is moving upward and macd is moving downwards which can be considered as convergence in MACD. When MACD is showing convergence, in most cases the price moves upwards. When MACD shows divergence, the price moves downwards which happened on 2018-MAY-04.  https://www.tradingview.com/x/n98oAcdI The extended red line in the graph is my prediction of the movement of 200 day moving average. Around Sep the 200 day MA might reach 8k level then that might be a crucial support level for bitcoin. I assume we will be near that level or atleast test the resistance of 200 day moving average during that time. If we observe another scenario, the first price movement to 6000 from 17500 took about 30 days and second downward movement to 6000 level is about 35 days. And the current fall is 51 days and it was not completed yet. This indicates that we mostly move upwards until and unless there is an extended bear flag. after all these factors if we move downwards we can consider that as a best chance to buy. I assume the next run will definetly hit 7750 resistance and if it crosses that level it will test 10000 again in coming days. All the views presented in the article are purely my personal view. Please do your own research before taking any investment decisions. Please upvote, comment and follow my posts for regular updates on cryptocurrencies. For those who are seeking extra SBD on their posts can join in Kryptonia. This is a platform where you can earn Superior coins for completing small tasks and you can create tasks for getting upvotes, comments and followers on your steemit posts. If you find this information helpful please join through the below link. https://kryptonia.io/?ref=V7NLZVM234 For minnows on steemit, please follow @moneyguruu channel and go through the posts which will help you to grow.