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4 May 2020 22:28:28 UTC
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Daily T.A with Rocky Outcrop - May 3rd - Technical Analysis & Price Predictions
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Bitcoin did it, a higher high on the four hour. Now the question is can that be sustained? Will any bearish divergence play out? Here I am back with another daily Bitcoin Technical Analysis video to help clear away some of the fog of war.

Looking for more to watch? https://youtu.be/M3bOE3QDnRQ Tradespotting's Risk Management Intro.

Bitcoin Technical Analysis Today.


Check out this Tradespotting video about Crypto Trading v Gambling: https://www.youtube.com/watch?v=CJiMaovB97Y


Could this potentially be the bottom? There are things to be on the look out for to the downside, yes, but today's video takes a look at a reliable harmonics pattern, the Gartley, and asks if the 3 day chart shows a bullish one with an ultimate target of $14k Since the drop in prices on Thursday the 12th of March the price of Bitcoin (BTC/USD) has risen back into correction territory. Having risen up from he low prices of $3983 on Bitfinex to the 236 Retracement line at $5490.
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On the other hand, its also very much true to say that all those indicators show nothing more than a correction against a huge downward move and everything remains very much bearish until such times as the prices start to climb back up. The first port of call will be closing the daily above the 236 fib.


On the four hour time frame we can see that the DMI has lost its luster and the DI- is now way below the ADX while the DI+ remains flat, should they start converging it may be our first signs of positivity. They're not so much converging now as stopping diverging.


The stochastics are trending to the upside with what could potentially be bullish divergence. The divergence not showing on the RSI or MACD, but they're looking more positive than they were during the decline.


To zoom right into the micro on the 1hr time frame the DMI looks like it could be on the cusp of turning around, all the lines are very tight. The consolidation prevents detailed analysis of divergence however the RSI appears to be testing the neutral line and trying to make its way out of the bearish control zone and the Stochastics are pointing up towards the middle line with the potential to begin to move upwards again. Should all of this happen then a potential breakout on the one hour of as much as $2k is possible, with t
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https://www.youtube.com/watch?v=zcyevj9kTpQ
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