Bitcoin has been on a downtrend for over two weeks, without any sign of recovery yet. By extension, it's also driving the whole cryptomarket down with it. The 4h chart is showing a downtrend, and if we are to see any sign of recovery, Bitcoin has to break that trend. Lower low peaks have been occurring every 5 days since 5 May, so if the tendency continues, we should keep an eye on what will happen on 20 May. Hopefully a breakout. The RSI is showing a convergence, i.e. lower peaks too, which corroborate with the candles chart, where the volumes are mostly red (selling).
click to enlarge
Let's hope the market recovers soon from this continuous bleeding.
DISCLAIMER: I'm not a financial nor a professional adviser. I formulate my opinions based on my research and interpretation of market news and chart analysis. If you're not a professional investor, please educate yourself before doing any market trading and don't risk more than you can afford to lose.
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Yes, right. every day gets bad news. btc is difficult to show positive trend
No body knows where betcoin going but i hop going to moon
Bloody war or another great buying op? for me another great buying op :)
take a look at my last couple of posts re: bitcoin and other markets...accurate? thanks
It’s a bloody war right now in the market and when we see when a tad bit of recovery , you wake up the next day with more downward trend
Indeed. I often get carried away by the 15min and 1h charts, but zooming out and looking at 4h or daily charts gives a better sense of where the trend is going.
Thank you sir for share valuable Chart Analysis 2018-05-17...
I don't know that much about crypto, and my only income right now is from turning my sbd into Bitcoin, and then onto my shift debit card. It's very sad to see what's happening. :(
Yes, let's hope it gets back on the rise soon, and keeps heading up!
Sneaky Ninja Attack! You have just been defended with a 34.10% upvote!
I was summoned by @drakos. I have done their bidding and now I will vanish...
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This post has received a 44.57 % upvote from @boomerang.
Oh no!
Check out that perfect doji with engulfing red candle. Says it all.
HALO
here is analysis BITCOIN
My personal analysis via Harmonic
Going down TO 7800 - 7000
good graphics analysis @drakos, i am very amazed to see it, hope abda always success @drakos, i will always support you. please help me.
i will upvote and restem.
This post has received a 38.14 % upvote from @booster thanks to: @drakos.
It is probable that its fall has to do with the launching of other criptocurrency, of course this that its value was very high but I think it was due to the great demand of purchase and sale
Patience, my friend. Patience.
Good :) if you want follow me :)
This color so red is just one more warning to run out and buy our favorite cryptocurrencies, of course, who has money to buy. ;)
For me, this very bloody battle began at the beginning of this year when those high prices that occurred in December began to fall ... What is happening at the moment I do not think it is of such alarm because according to the story always the BTC no matter how many do not want it, it will always rise.
Greetings dear @drakos ;)
Thanks for the great information @drakos , fingers crossed for and upward trend after May 20. upped and resteemed!👍👍👍
agree..good work..plse visit my posts..(bitcoin, and the metals. charts are to be respected...however, understand please market SENTIMENT is critical and for BTC it has been quite negative. We called a buy at 6950, a sell at 9750 and the commented repeatedly, 8000 significant.
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