Jeffrey’s Weekly Bit Chart View (12/17~12/23)

Last week, although the chart showed less deline than the previous week, the chart had additional decrease.

In the situation where day-peak’s bottom pattern does not exist yet, it is better to check bottom pattern and enter instead of predicting increase. 

Above chart is the weekly peak for Bitcoin. The chart shows rally with supports around 200-day moving average. The transaction amount and purchase are frozen and there is low reliability on possibility of actual rally.

Also, sub-indicators such as RSI show the lowest level in oversold field.

Above is the chart for 12 hours. Although the chart was promising as the big waves created double bottoms, the chart is pushed aside. The 12-hour peak still has potential for increase.

However, in this inverse array situation, it is recommended to achieve profit from short-term trading rather than medium- and long-term investment until the market situation gets better. 

Above chart is for 4 hours. Although the chart managed to break through the long-term falling tendency line, there isn’t reaction involving higher transaction amount. Thus, additional decline may take place.

In the 4-hour chart, the chart is likely to have variability after December 18, 20:00 PM.

Also, it is recommended to sell off Bitcoin in 3,230 dollars.

In the market without overall variability, favorable market conditions such as introduction of new fund is necessary.

 

Columnist Jeffrey (news@dailycoinews.com)의 기사 더 보기

- Daily Coin News prioritizes the voice from the scene over others(news@dailycoinews.com) -

[copyrightⓒ 2018 All rights reserved by Daily Coin News]

Bitcoin price when registering article
BTC-USD : $ 3,620.70 USD (API by Bitfinex)

6 0 Write