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I thought I'd compare some Fibonacci numbers to previous bull/ bear runs in BTC for my own interest and also line up with the longer term log trendline. I also added in the lesser used .886 fibb level which lines up nicely with the bottoms in 2013 and 2015, depending on how you choose to line the fibbs up! In TA you can make most ideas work if you try! I also ...
Still within the parallel channel from the beginning of this rise. USD on bitstamp spiked slightly out of it but is good on the EURO charts. Supported by the bottom line for the moment. If we break that next supports is the 200 EMA. Looking to close above the upper line of the wedge which is keeping us down to see if we can resume the uptrend.
WTC is overbought on most timeframes and stalled at resistance and the 1.618 fibb level. Wait for a pullback to maybe the .618 fibb at ~15700 or .786 fibb at ~14900 if you're looking to get in. Note that all the preceding waves have reversed at the .786 fibb levels.
Looks like it will go higher now. Looking to 22000 first target at the 2.618 fibb from the ...
We're trading within a pennant at the moment within a wider ascending channel. Let's see if we break out of this to the upside. Fib extension from the previous 9k to 6.7k wave took us to 1.618 fib at ~9700. Now looking for the 2.272 fib at ~10900.
I'll be closely watching the daily RSI if this move happens. Practically every time the daily RSI has exceeded 30 ...
Does what it says on the tin!
Looks like this wedge will takes us down to test the .382 fib level at 8450 and we're so close to the log trendline I wouldn't be surprised if we also give that a go. If we confirm that as support - should be pretty good for heading north! Also just below this we have the 50 MA around the 8100 level and the psychological round ...
Head and shoulders almost formed. Looks like we might see it break down to either the 8800 support area or through to the 200 MA (4800 on the hourly) at 8675 around the yellow ellipse. We might see a small bounce up from there, maybe to 9200 at previous support then turned resistance, and then we'll see if that holds or probably more likely we'll go down further ...
Increasing volume. We bounced from the 618 fib at 7500k sats. I expect a retest of that level in the coming day with the roadmap incoming on the 21st of February and a possible breakout upwards. Next target 8700k. For information only.