BTC is going down as expected. I anticipated wave C to be 5-waves move, but that 4th wave was not completed, so instead of 5-waves we ended up with 3 waves ABC.
BTC stopped at strong support line (78.60 Fibonacci level), but in my opiniont it's not over yet, as we may have that final push towards $7.000, then we can bounca back up to finish that triangle formation.
Passing through that $6.900-7.000 point would be strong bearish move, and if that support wont be strong enough, we can go even lower, but it's not likely to happen now.
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In my analysis I'm using Fibonacci Levels, Elliott Wave principles, Support and Resistance lines, Candle Patterns and formations, like Head and Shoulders or Triangles (latter more often than the former).
DISCLAIMER
I’m not a certified financial advisor nor a certified financial analyst nor an economist nor an accountant nor a lawyer. The contents posted by me are for informational and entertainment purposes only. Don follow any analysis blindly, and make your own decisions. Always plan your trades and play with stop-loss.
If like my charts, You can follow me on Steemit or Twitter.
BTC stopped at strong support line (78.60 Fibonacci level), but in my opiniont it's not over yet, as we may have that final push towards $7.000, then we can bounca back up to finish that triangle formation.
Passing through that $6.900-7.000 point would be strong bearish move, and if that support wont be strong enough, we can go even lower, but it's not likely to happen now.
-------------------------------
In my analysis I'm using Fibonacci Levels, Elliott Wave principles, Support and Resistance lines, Candle Patterns and formations, like Head and Shoulders or Triangles (latter more often than the former).
DISCLAIMER
I’m not a certified financial advisor nor a certified financial analyst nor an economist nor an accountant nor a lawyer. The contents posted by me are for informational and entertainment purposes only. Don follow any analysis blindly, and make your own decisions. Always plan your trades and play with stop-loss.
If like my charts, You can follow me on Steemit or Twitter.