jawpilot23

2 hour / three potential short term moves

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Breakout rejected at 16k. Just bounced off the 0.5 fib line (~$14,500). Three ideas.

1/ new channel forming where we see another test of the 0.5 fib before bouncing to 17k.

2/ same as 1 but we break down through fib support to $13,000 maybe lower.

3/ the 0.618 fib and bottom trend line may work as an ascending triangle , in which case we could expect a fairly rapid push up from current levels to maybe $16,500.

See my latest 4 hour Ichimoku chart for crossover possibilities. Number 3 probably the most likely in my opinion.
Comment: Attempted to push up. Korea fud seems to have been a trigger for a pullback. Tested bottom of channel which held for now.
Comment: 1 and 2 still in play here.
Comment: 2 it is. Next stop $11,000 or move back up to test 0.382 fib ($13,000).
4hr head and shoulder
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@hinesy30, Yeah would make sense, same idea as number 2 above
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