I know there's a lot going on in this chart, but I'm thinking in the short term BTC may fall down to the bottom red line; historical trend line from a couple years ago. Local fib and historical fibs offer some support for this possibility. Also, its always a good idea to keep an extra eye on BTC during the 13-17th and the 1st.
Another possibility would be for it to continue past this I'm predicting and past the recent low to set up a bullish RSI divergence.
Why is it a good idea to keep an eye on BTC during 13-17 and 1st?
Im1056
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@MrVolcano, I have spent a lot of time looking at historical charts to see if there were ever reoccurring dates/times where there was major movement. The first of the month and around the 15th had much more major market reversions than any other date within a given month. Also, 5 a.m. UTC and 3 p.m. UTC are, or were, common times where a chart would move. Recently, I've been seeing 8 a.m. UTC instead of 5 a.m. If a chart starts going one way in the hour before 5/8, it will go the opposite when 5/8 hits.
Why is it a good idea to keep an eye on BTC during 13-17 and 1st?