Weekly candle opened above support - We are going UP
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Slight re-scale
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BTC and pretty much everything else opened above support, we have a green week in front of us - Here is where we are in relation to the major downtrend and long term support - When a price breaks a downtrend the candles then have to slide down the top of the downtrend to rejoin the uptrend - I'm thinking we will break the downtrend, see 12k then back down to 10.3k area to rejoin the channel up
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Sat on the local range 61.80% fib - May bounce a little here but could well go to 9k again - The candles need to stay above the Blue 1x1 gann fib or Btc will drop further than that
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Up we go - The candle opened outside the arc pair - The ultimate ceiling is the underside of the blue 1x1 Gann fib ray
Nice update, scary times but perhaps a bear trap was set, unset and we are on our way again. Some usual crazy calls but this makes rational sense.
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@Crypt-Know, I agree been scary, thats half the fun lol. This might yet turn out to just be a nice bounce before more down, I'll start putting out a weekly chart, you can tell by the weekly candle whats coming and whether to buy/hold/sell, much less screen time *)
@yshashmi37, The max is the underside of the blue 1x1 around $11,600, plenty of fibs in between but the only major Gann resistance is the Top of Square at $8850, have to see what sort of candles we get but all my Btc charts show 11.6K area to be possible
Nom_de_Guerre
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Btc is hanging by its fingernails - The price has to close above the dotted line on this chart and the blue 1x1 on the main weekly chart above
Nom_de_Guerre
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Btc is hanging by its fingernails - The price has to close above the dotted line on this chart and the blue 1x1 on the main weekly chart above