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CME Bitcoin Futures Retrace 2019

Bitcoin (COINBASE:BTCUSD)  
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COINBASE:BTCUSD   Bitcoin
Trend Analysis Chart Patterns Beyond Technical Analysis Bitcoin (Cryptocurrency) BTC BTCUSD Cryptocurrency CME cmefutures bitcoinprice Fibonacci Retracement
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trendanalysis chartpattern beyondta bitcoin btc btcusd cryptocurrency cme cmefutures bitcoinprice fibonacciretracement
Building on previous chart. Fibonacci downswing retrace is now 78.6%, for the 2019 descending triangle.
  • Each orange vertical line, shows a CME date that was preceded by a bounce
  • The price then drops all the way back down to test the lower trendline
Comment:
snapshot
The size of the spike in CME volume may have caused the price to overshoot the triangle slightly.
After a double top in the 4100 to 4200 area, I would expect some pullback.
Comment:
After wicking to the 3900 area, we should start moving down now to the lower trendline.
Comment:
The retraces seems to be currently 90% and 78.6%:
snapshot

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