By Dmitriy Gurkovskiy, author at RoboForex Blog. On Tuesday, April 14th, the leading cryptocurrency is declining, trading at 6850 USD. On D1, the support line of the correctional uptrend is broken away. These dynamics might be interpreted as a reversal aimed at forming a new declining wave with the goal of 3925.70 USD. Note that it reached 50.0% Fibo, so a reversal looks quite natural. The descending dynamics of the MACD lines may be supporting the development of the declining wave. On H4, the picture of the trend reversal may be seen in more detail. Earlier, there formed a Black Cross
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The current price of BTC is roughly in line with the popular stock-to-flow (S2F) system for technical analysis, and if the trend continues some speculate the price of the asset could reach $100,000 within the next two years. Though the S2F tool is still a controversial metric, and various groups have hampered the asset’s capacity […]
By Dmitriy Gurkovskiy, author at RoboForex Blog On Friday, December 27th, the activity shrunk to a minimum. The leading cryptocurrency is trading at $7181.00 and declining slightly. Judging by the dynamics on D1, market participants are aimed at 76.0% ($5700.00) but stopped yet near 61.8% Fibo. At the decline, there is a convergence on the MACD, which may signal a pullback but only after the target level is reached. As the target level for the pullback, we may regard the resistance line of the current channel and 50.0% ($8500.00). However, the main goal of the declining wave is the yearly 
