TradingFellow

BTC - The 'perfect' down move.

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
After hitting the 0.618 Fibonacci retracement perfectly, the Bitcoin COINBASE:BTCUSD made an extension right into the 1.272 Fibonacci extension level. And that without hesitation.

Now, having some trouble passing that level, it almost seems to be a perfect short setup.

However an AB=CD pattern emerges a bit above, and a trend line is passing by. Price can always go higher, but this confluence of 3 indicators can give you some better clues to go short and profit from a correction.

Happy trading!
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out