I have failed to analyze BITUSD using any indicator. Yet I think I found the sense of this pair: Fibonacci ! but not a normal Fib, it is one handled with extensions in INTEGERS: 1.61, 2.61, 3.61 is next ! (I think).
Its growing and strong momentum drives it the biggest movements I've ever seen, and I think also its volatility and credibility may be at stack !...
Some ways to avoid false breakouts is to trade in the direction of the trend close to the EMAs. Don’t
buy into major resistance or sell into major support without a very good reason. With price squeeze
patterns, wait for a candle to close outside the pattern, confirming a breakout instead of just buying
or selling breaks as they happen.
CHART TIMEFRAME: H4
TREND ON THE CHART TIMEFRAME: BEARISH
FACTS AND PATTERNS:
EURCHF is approaching support zone. 1.16000 – 1.15800 is the strong support area.
A bullish shark pattern completion at 1.15820.
POSSIBLE “PREDICTED” PRICE ACTION: Move back from support and a retracement towards 1.16400 and 1.16700 Fibonacci Levels.
EURCHF TRADE IDEA:...
As we can see, dash is on rising trend. It on third wave (by Elliott).
Correction will begin at 830 - (by Fibonacci tool).
RSI and Stoch(not crossing) coming to 80, - correction will begin soon(1-2 weeks).
In winter 2018 we'll get 1000! ;-)
It is my thought that these are a few levels to which BTC will pull back to prior to a second attempt on breaking $10K. I believe 38.2% at around $8940 is the most likely target, followed by $8280 and possibly even $7215. I will be watching this closely.
I think I true correction (Fib. entrancement ut to 31 %) is at is very gates. It is difficult to say where exactly or when exactly the impulsive upwards move will end, but I can smell it is very very near. Probably this weekend the price will fall sharply, but the down trend should continue also over time to accomplish all the Fibonacci structures. Don't ask me...