Bitcoin: Still on range

in bitcoin •  7 years ago  (edited)

Let's see the bigger picture of BTC/USD
Bitcoin is still trading on range.


Short term range. Still above wave 1 of prior bull price structure. Underlaying sentiment is still bullish.

Short term bull trend has been broken. Will it be a fake breakout before the real move? Will the bear trend extend?

Fibonacci Ratios applied to Bitcoin BTC/USD

Bitcoin is still trading on range. The bottom of bear channel and the 61.8% retracement are very close so could be a likely key level to expect.

Full size charts: Open in new tab window

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7 years ago by

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      ·  7 years ago 

    I expect Btc to go up this Monday as usual on every Monday after going down on Fridays thru weekends.

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        ·  7 years ago 

      That's called a market anomaly typed as Calendar anomaly. Most of good fridays end up with a bad monday (weekend effect) and bad fridays tend to offer a good monday.

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          ·  7 years ago 

        So BTC has no now invalidated the bull count from April. Do you see this as still a larger wave 2 correction after wave 1 starting at the 2018 low, or do you think we are heading to a new 2018 low?

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            ·  7 years ago 

          check out today's update. Count still valid yet other count has been presented as well

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            [-]
              ·  7 years ago 

            Ok, so I just got the Fibonacci ratio. It is the percent of retracement off the peak. You're going to train me well one day:)

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                ·  7 years ago 

              I know that there is magic in your post. How do you make sounds from the inside of the heart. I can stop. I understand the feelings of the mind. Thank you so much for the beautiful post.

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                  ·  7 years ago 

                5.878K - 4.300 area.

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                    ·  7 years ago 

                  Could happen yet would be really scary. Hope that does not happen.

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