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[Red Apple] “Rebound points. “_BTC/USD_18.08.11

Bitcoin / Dollar
BITFINEX:BTCUSD


BTC             failed to break many resistances and then falling down,, down,,,,
Let’s check rebound points~

A. Monthly Chart

There’s rebound points such as 20EMA, 20SMA, trend lines , previous low level.
a. Trend line I : $5860
b. 20SMA : $5790
c. Previous low level : $5755
d. Trend line II : $5600

B. Weekly Chart

Possibility for Eve&Adam pattern ( Double bottom )

C. Daily Chart

Now, rebound like above chart and then, it can be dropped again later because BTC             is falling down along 20EMA on 4H.

D. Summary
There’s still lots of resistances up there. to breakout, we need a huge bullish candle. maybe it will appear from one of rebound points.
a. For previous briefing : There was no Buy signal (no bullish engulfing candle, failed to stay over 20EMA on 4H)
b. For this briefing :
a) Aggressive Traders : Buy from expected rebound points -> set short stop-loss
b) Conservative Traders : At least, wait until BTC             stay over 20EMA on 4H and find BUY signal.

Thanks. hope you got help from my idea.


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