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Caution!!! caution !!!Bitcoin Dead cat Bouncing ?? will like to fall again from $7509.6 level ?? by amusdnom

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bitcoin · @amusdnom ·
$21.37
Caution!!! caution !!!Bitcoin Dead cat Bouncing ?? will like to fall again from $7509.6 level ??
Hello 
Steemians, 
This is my another Technical analysis on BTC/USD.  I was just watching  Crypto market as it was just showing nothing but
mumbo jambo game. Just like to and fro  motion as ***Pendulum*** Does.
![Bitocin Analysis -05-08-2018-1.png](https://cdn.steemitimages.com/DQmRo76R4UJAcq4DqoZnVvtS7kSawxD2h4Ae5d4cZNDdo6i/Bitocin%20Analysis%20-05-08-2018-1.png)


Just have a look how smoothly bitcoin making a ascending triangle which shows bullishness but here is the main trap that lies behind on this beautiful move.

![Bitocin Analysis -05-08-2018.png](https://cdn.steemitimages.com/DQmVh5X4VXZVSegDUDGmWVuCvLpCnf3hsL9eE52j3Md7p5k/Bitocin%20Analysis%20-05-08-2018.png)

***Need very very cautious As Bitcoin approaching near about it's golden Fibonacci ratios 61.8% as 7509.5$ level this level is very crucial***

Here is the previous level where We expecting it would bounce back  and exactly  the same way after some lagging periods it does but had great uncertainty

Have a look....

![Bitcoin-1.png](https://cdn.steemitimages.com/DQmSjjUvejdyNigStwwEFBwGHdJuKvJ7gCRHVdZftyFtcff/Bitcoin-1.png)

The Above data and screenshot was taken   on ***27.08.2018  when Bitcoin  was trading at $6692.11 level***

Now come back to the techical funda that we are trying to digging out.

Lets Have a look on  ***05-09-2018  BTC/USD   daily OHLC data**

***OPEN = 7359.99***
***HIGH = 7384.00***
***LOW =  7355.47***
***CLOSE= 7368.00***


This data shows  that there is not  much up move taken just few 15 points from opening and not made much lower just 5 points nearly....

So this is indicating that it will turn back anytime after giving a swing or spike move......

Interestingly....    The major crypto market is green but ***ETH*** which is another giant of crypto currency is not moving too much and unable to to cross 300$ level .  This also is also make us chance to doubt that BTC/USD will go further up...    Might bitcoin going to show off ***Dead cat bouncing***???

Or there might be a trap???

 Lets have a glance what heat map want to say us.....


![Coin360-05-09-2018.png](https://cdn.steemitimages.com/DQmPixejXjd6eBHoTH1uewx5WwJLsjy9PQY2dEanejEMxE8/Coin360-05-09-2018.png)
from coin360


Eth still In Red Zone bellow 300$ level...



***Apart form that  ....  few bitcoins facts....***
***1. Bitcoin just making a ascending  channel just when it will break will take downfall again...***

***2.  RSI JUST NOW 64.43 WHEN EVER IT WILL BREAK  ASCENDING CHANNELS OR HIT RSI 69 LEVEL OR 70 IT WILL MIGHT HAVE REVERSE BACK AS SHOWN IN EARLIER JULY TRADING SESSION.... SO BIT COIN IS AGAIN APPROACHING INTO SUPPLY ZONE.***

***3.On August series 19th of august MACD  crossed and makes support from 6261$ level and bounce back this level and now trading around 7367$ level as of now writing this article.. shows it can turn anytime down side after reaching  7509 level***
 ***as it is already started  less height of positive histogram and some weakness.***

***4.Although  The 100DMA still supporting but when it will start downfall again it will act as resistance ....***


![Bitcoin.jpg](https://cdn.steemitimages.com/DQmPc4TyphMSBPgqc1UUocRAStLCS4bpzB3FoN932VymuD5/Bitcoin.jpg)


***CONCLUSION -  ANALYZING ALL THESE TECHNICAL DAT WE CAN CONCLUDE THAT BITCOIN MIGHT BE PULBACK IF THIS ASCENDING CHANNEL BROKE OR TOUCH GOLDEN FIB LEVEL 61.8%  I.E 7509.6$***
THIS IS MY OWN TECHNICAL ANALYSIS DON'T trade before sure that you have made your own analysis to....
Please don't for get to share your valuable feedback and some facts that might have overlooked...  

Please give your opinion and technical Analysis too  what do you are thinking what is the next move that bitcoin going to take move...... Don't forget to share with us....


Thanks for Reading ....

Regards @amusdnom

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vote details (683)
@bindas · 
After a long time you have written about this. Currency market has become really volatile.  Sometimes it is unpredictable. It is also influencing world economy. Falling of Indian Rupee may be caused due to such volatility.
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@amusdnom · 
It is just Trapping by crypto whale..  they are  using their power making fool the  small retail crypto trader...

see already huge down today..  487$ after breaking after channel!!! 

Next part will clear the Idea....
for more details you ......

[You can visit over here....](https://in.tradingview.com/chart/BTCUSD/rGR5KPXl-Bitcoin-dead-cat-bouning-caused-487-point-crash/)
πŸ‘  
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@curationkiwi ·
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You got voted by @curationkiwi thanks to amusdnom! This bot is managed by @KiwiBot and run by @rishi556, you can check both of them out there. To receive maximum rewards, you must be a member of @KiwiBot. To receive free upvotes for yourself (even if you are not a member) you can join the KiwiBot Discord [linked here](https://discord.gg/9cCHf8G) and use the command !upvote (post name) in #curationkiwi.
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@gaman · 
Resteemed your article.  This article was resteemed because you are part of the New Steemians project. You can learn more about it here: https://steemit.com/introduceyourself/@gaman/new-steemians-project-launch
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@masscollective · 
Good information that people should take into consideration. I don't think Bitcoin is going to the Moon right away.
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@amusdnom · (edited)
Thanks @masscollective 

I love to share my technical  analysis to everyone....  it is said that ***Knowledge is the Supreme Power when it shared it gets doubled!!!***
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@minnowsupport · 
<p>Congratulations!  This post has been upvoted from the communal account, @minnowsupport, by amusdnom from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows.  Please find us at the <a href="https://discord.gg/HYj4yvw"> Peace, Abundance, and Liberty Network (PALnet) Discord Channel</a>.  It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.</p> <p>If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=102530.639667%20VESTS">50SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=205303.639667%20VESTS">100SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=514303.639667%20VESTS">250SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=1025303.639667%20VESTS">500SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=2053030.639667%20VESTS">1000SP</a>, <a href="https://v2.steemconnect.com/sign/delegateVestingShares?delegator=&amp;delegatee=minnowsupport&amp;vesting_shares=10253030.639667%20VESTS">5000SP</a>. <br><strong>Be sure to leave at least 50SP undelegated on your account.</strong></p>
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@rajib9954 · 
Good analysis
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@amusdnom · 
yes long time Back I just tried to do some Analysis on it....

what do your analysis tell about BTC/USD market....
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@satadaldas · 
I read full blog.. this is a good  analysis by you..
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@steemitboard · 
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@amusdnom · 
Wow thanks steemit board!!!
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