BTCUSD 7Mar20: Bullish/Bearish Scenarios

Mis à jour

Bullish: Coming down to 8732 USD and bouncing off, establishing a higher local low?
Bearish: Dropping back down to the 50% Fib level @ 8507 USD, and probably will then retest 8732 USD before failing and falling deeper down.

Present course of action?: Wait & watch for next move.
Price likely to drop lower first for both cases. Set stop-loss for bearish case (@ ca. 8675 USD) with the aid of the RCVI Stop-Limit Selector Script.

Fresh PRISM Signals' Buy signal triggered (suggesting an underlying positive acceleration of the momentum increase).
However, need to wait for Cyber Ensemble for technical confirmation -- which actually recently signaled a sell instead.
Clear bullish signs of accumulation present.
However, the actual PRISM acceleration/jerk oscillators look weak.
Significant low reversal earlier triggered on FUSIONGAPS V5

Continued from:

PRISM Signals signaling BUY on the 1D Chart.

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CYBER ENSEMBLE 3hrly Chart

15min performance. Not as good as 3hrly since price movement can be more "random", doesn't necessarily adhere to TA well, and difficult to predict. Typically need a different trading strategy to trade at such short timeframes IMO.

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At such low time frames, looking at the underlying/hidden momentum/acceleration/hidden momentum shift, etc. (i.e. PRISM Signals and PRISM Oscillators) tends to be more effective rather than relying on traditional TA/patterns that works better at longer timeframes where randomness/noise are averaged out:

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Price have now dipped.
Waiting for CYBER ENSEMBLE to signal "Buy" again (previously signaled sell), for re-entry.

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Another view point (Trendline/Fib support/resistance):

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Predicted the dip earlier... Will the current support hold for the bullish scenario?

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Buy signal on PRISM Signals now also triggered on the 3 Hourly

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Price just dropped further -- however, noting that current movements is over the weekend, where liquidity is comparatively lower, and erratic price movements divergent from what is expected base on TA, becomes more likely.
However, w/o dropping down to 8500 USD (below the bottom support), I'd still maintain a slight bullish bias for now into the weekday.

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Trade fermée: cible de profit atteinte

Bullish target reached.
Sooner than expected.

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^^ Typo: Bearish target reached.
Also, Cyber Ensemble still have not signaled a fresh "Buy" signal yet.
Till then, price will likely continue to drop to ca. 8k USD.

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Now, waiting for price to come down to 7500 USD, then consider what to do next from there. :)

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Presently just staying out of the market for now.

cybernetwork

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