Update on the BTC Situation

in #bitcoin • 7 years ago

Our target is now below the currently drawn fibonacci in this chart. Probably around $1850 as mentioned many times before. We have seen BTC breaking out of it's triangle on the lower side, after a false breakout upwards. It has now crossed the 0.382 fib and has tested the 0.236.

Trend-based time zone indicates that we are going to reach a low on approximately the 17th. If the current trend is followed, we can expect this to be very reasonable and it could reach it a bit before.

Most of the indicators on the 1day chart show a continuation of the current trend and it seems likely that the rebound today is just a miniature bulltrap.

Screenshot_2017-07-12-20-30-04.png

#cryptocurrency #trading #crash
7 years ago in #bitcoin by
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     7 years ago 

    I get your idea @torjusg.
    Try using the fibonacci without the transparent colors.It would be more clear.
    Anyway nice work on the chart.

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     7 years ago 

    Thanks for the tip and the comment, I will try that. :)

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