PPC/BTC Technical Analysis – 14th March 2014

Analysis provided by Ashton Fraser, learn more about his trading strategies with the Forex Reversal indicator.

For today's PPC/BTC technical analysis, I've performed my Fibonacci study based on the M30 chart, from the last major swing low of the past year at 0.00496, until this week's high from yesterday, at 0.00537. (Click on chart below to expand):

Zooming into the chart, we can see the two candles circled in red.

Both of those candles were bear candles, and both of them closed above the upper Bollinger band. This is a very rare occurrence indeed, and a very powerful potential reversal signal. And it's important to look for other corroborating technicals.

That corroboration came within the following few bars, marked in the red ellipse. We can see how 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 Read this Term Oscillator turned red, as did the Awesome Oscillator, and we had a smooth Stochastics crossing down, in an undersold position.

Price then fell down until the 61.8% Fib retracement level, circled in blue, where it's currently residing.

, and if price down fall down further, then definitely expect another bounce off that zone.

Learn more at https://www.forexreversal.com