- Quick update from my last analyze with a little more points of interests. this graph is a little messy but everything is annotated.
- i always say if u don't see clearly the situation, change your timeframe and look from more far, so i used 3 Days Timeframe. - more we look from far, less we have delay, and more easy we try to detect the scheme.
- So this is not really a price analyze but a kind of scenario with a trading plan, combined with only 2 indicators ( ichimoku cloud + Bollinger Bands )
------------------------------------------------------------------------------------------------------------------------------------------------------------------ Case 1 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ - You can notice in the graph that in last July BB started to get thinner and compressed, from there we started a reversal trend and got another pump. - You can also notice that we are in the same situation right now.
- So the case 1 could be a touch and go from 51,000$ (BB + EMA50 3D support (EMA not in graph)) ------------------------------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------------------------------------ Case 2 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ - ichimoku cloud built a strong support flat zone (Flat ichimoku support Zone in Graph) - TheKing could dip and start from this zone a next bounce.
- So case 2 could be a possible rebound around 47,000$ ------------------------------------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------------------------------------ Case 3 ------------------------------------------------------------------------------------------------------------------------------------------------------------------ - TheKing will finish his retracement from his last push and back to 61.8% - the same happened in May when we dipped back to build a support around 30,000$
- So case 3 could lead us to touch 44,500$. ( Worst Case ) ------------------------------------------------------------------------------------------------------------------------------------------------------------------
Like always don't forget that everything is just speculation, manage your trades, don't go all in, be patient and believe in TheKing.
Happy Tr4Ding !
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Older Ananlyze :
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remember about the cloud, it can be a strong indicator :
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Dip after EVERGRAND Chinese FUD news. Don't Panic. Still in Zone for now.