Bitcoin update 9.Mar, Spooky times ๐ฟ
bitcoinยท@thedolphinยท
0.000 HBDBitcoin update 9.Mar, Spooky times ๐ฟ
Bitcoin keeps dropping, at fearful volumes. Will this end, or IS it the end? I'll present several analysis tools for you today. First a hourly chart from Bitfinex:  The Superguppy tool show no positive signs this time. The fast blue traders group's action is below the slower red Investors group. Both groups are widening, expressing great uncertainity in both groups. ---- Next up is the daily chart from Hitbtc, with TD sequential, MACD and RSI. Hitbtc price is about $400 above the others. TD on a 3 red with solid red bars, and price has dropped well below the green support line. Last red TD 9 supports at $7,300. The yellow long term trend line support is about $6,600.  MACD crossing down below the signal line, and also dropping below price line, indicating we are going lower. RSI is dropping down, and may go down to 30 worst case. ---- The 4 hour chart from Coinbase is also bearish, altough the last candle are currently green and up.  Price has dropped below the Ichimoku cloud, wich is twisting to red ahead. Bollinger bands widening out, and volume show clearly that a sellout have happened in two large chunks. All in all a quite bearish day, and it looks like it is going a little more. ---- The final chart show something many have pointed out, an inverted head and double shoulders.  This could be in play as we speak, and may be our resque for now. If no reversal happen the next hours I'm afraid we are going to test the support lines at $7,300 and $6,600. If they break we are going to a double bottom at $6k, or even a lower low. ---- *These are just my thoughts, not a trading advice.* *If you have another view on this post your welcome to discuss and post your charts in the comments.* *If you'd like my technical analysis on another coin, please ask in the comments.* <center><a href="https://steemit.com/@thedolphin"><img src="https://steemitimages.com/DQmX4TukYouJPNr8BAtYRwgVciQYsot8rRTuLCopzqkMxek/followThedolphin8080.png"/></a></center> <h4>Comments are highly appreciated, and please [upvote](), [resteem]() and [follow me]() if you profit or otherwise enjoy my posts !</h4> I'm also active at <a href="http://www.investfeed.com/" onClick="window.location = ('http://www.investfeed.com/datsellof?rec=a801cdf'); return false"><img src= "http://www.investfeed.com/media/images/buttons/invf_med_rect.png"/></a>
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