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.
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).