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Would love people thoughts on this 150 year old chart posted today in the telegraph
Bearish divergence on the 4 hour chart for bitcoin !!!
Here is an example of a demand zone with many confluences, you have the 0.618 on the Fibonacci retracement tool, a vertical trend line & horizontal trend line & also the 4 hour 200ema which can be a dynamic support and resistance levels. Always look for confluences
Bitcoin rejecting off long term resistance & mean line of the Gaussian Channel on the weekly chart. Also if the bottom is in we rejected off the 0.2 fib on the weekly chart. Whats next? Support zones 27k, 25k , 21k, 19k lose 19k new low most likely.
BTC weekly chart looking bearish rejection from the 50& 200ema's. Also if you look on BITTREX weekly chart the 50ema has crossed to the downside over the 200ema. It seems that BTC is forming a broading wedge that could take us to around 10k if we lose the low.
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