MagnusTradingGroup
Long

[ UPDATE ] Falling Wedge intersected by fib-time lines

BTCE:BTCUSD   None
We are apparently sitting on an older trendline that seems to be still in effect. nibbling off the 23.6% fib line effectively forming an ascending triangle . if you extend this trendline it crosses my 666 target right around the 3x timefib which is based on the uprun marked by blue vertical lines 0 and 1. line 3 is after 3x the amount of time between 0 and 1.

The uprun didn't retrace more than 33% which is considered a healthy retracement and is often followed by another leg up.

Comments

Great analysis !
+1 Reply
Thanks lulu :D
+1 Reply
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