BTC/USD Technical Analysis – 14th April 2014
, how we may see a drop to a certain level, posting this chart:
Where I mentioned,
"With the Stochastics now heading down from an overbought zone, we may see price hit 38.2% (from the second chart) later today at 403, with 400 providing some support due to it being a psychological whole number."
Which is pretty much what happened, as we can see via today's chart below:
Now, how much strength do these bulls have? Well, due to the recent and consistent bears, it's difficult to imagine we're going to see a raging bull - however, what I think may well occur is a rise to at least 478. I say that because of what's happening right now on the D1 chart below:
I've performed the Fibonacci study from the last major swing high (the high of March) at 700, until the low thus far at 342.
We can already see how price has surpassed the 23.6% Fibonacci retracement level - and I'm very confident we're going to be seeing a rise to the 38.2% level very soon (marked in blue), since for the first time in a long time on the Daily, we have multiple indicators aligned, with the Stochastics heading up from an oversold position, plus the Accelerator Accelerator An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he and Awesome Oscillators both turning green.
Indeed, a 50% retrace at 520 may be a viable target as well this week, due to such a decent alignment of the technicals.
, how we may see a drop to a certain level, posting this chart:
Where I mentioned,
"With the Stochastics now heading down from an overbought zone, we may see price hit 38.2% (from the second chart) later today at 403, with 400 providing some support due to it being a psychological whole number."
Which is pretty much what happened, as we can see via today's chart below:
Now, how much strength do these bulls have? Well, due to the recent and consistent bears, it's difficult to imagine we're going to see a raging bull - however, what I think may well occur is a rise to at least 478. I say that because of what's happening right now on the D1 chart below:
I've performed the Fibonacci study from the last major swing high (the high of March) at 700, until the low thus far at 342.
We can already see how price has surpassed the 23.6% Fibonacci retracement level - and I'm very confident we're going to be seeing a rise to the 38.2% level very soon (marked in blue), since for the first time in a long time on the Daily, we have multiple indicators aligned, with the Stochastics heading up from an oversold position, plus the Accelerator Accelerator An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he An accelerator or startup accelerator is defined as fixed-term programs that look to foster investment, connections, sales, and education to kindle growth in a project.Most commonly this effort constitutes a public pitch event, demos, and other forms of marketing. Startup accelerators are most commonly associated with Silicon Valley, a global hub for investing and fintech.Startup accelerators however are a global phenomenon that privately funded as an investment fund. This nature of investing he and Awesome Oscillators both turning green.
Indeed, a 50% retrace at 520 may be a viable target as well this week, due to such a decent alignment of the technicals.