Hi again.
I can't remember how it was called, but, I remember this analysis, that after a clear breakthrough there will be some fluctuations inside a range, and the another breakthrough that would continue the trend of the one before.
I think I see this clearly in the the following bitstamp graph which I marked the previous and the todays break which continues the trend.
https://ibb.co/KscqfdXNow we should expect ups and downs inside some range, until the next clear break ¿correct? according to my statement before, should be also in the low direction, ¿which technic would you use to analyse the future breakthrough, in order to predict if it is going to be negative as the trends continues, or in the positive and thus breaking the trend?
PS: Which code do I have to add here to get the image to show at the post without the need to clikc in it???!!!
Expecting the decline to conclude at either of the following BITSTAMP support zones...
@7230: 61.8% Fibonacci retracement from 15-DEC-2018 to 26-JUN-2019 (avg expected zone)
@5425: 78.6% Fibonacci retracement from 15-DEC-2018 to 26-JUN-2019 (max expected zone)
@4350: 88.6% Fibonacci retracement from 15-DEC-2018 to 26-JUN-2019 (WARNING: Bull Market Terminated?)
At which point, the following criteria ought to signal a potential end to the decline:
1. A +15% bounce.
2. Positive divergence on a momentum indicator such as the RSI, on daily and 4-hr timeframes.
3. A rising impulsive wave structure consisting of 5 waves.
As soon as I saw the jump i thought about this post.
We can say that the decline of the market is really finished as the support zone got up to 8500 (now at 8300) ¿correct? Or is ir jusr anoghe part of the wave?
If correct, we should se a movement around a range for some days and then again a possibly up or down according to the last movement, and if the decline is terminated in the up direction.