Bitcoin is testing a KEY level - will it make it or break it...

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Hello everyone,

We've added about 120 followers to our family here in the past couple of days, so welcome, welcome - happy to have you. I also want to thank you all for putting me back on the the front page on the top trader section. We peaked at 3rd, so pretty happy with that.

I want to show you guys a pattern that has been recurring over and over for the duration of the bitcoin bear market. I apologize in advance for the chart being complicated, it's just a messy tool.

You will notice, that each time we form a Fibonacci retracement from the recent high to the recent low, the following recovery keeps failing at the .618 level. This pattern has just been repeating itself over and over again. We are coming to that level now and I think that if we can clearly break it, that will be a very bullish sign. I am personally more bullish than bearish , but you should be cautious at buying at these levels because we could fall down to the $6000 again. Personally, with the higher lows forming, I am going to have a nightmare deciding whether to close my position at my entry from $6300. I probably will just hodl on another move down.

I thought this would be very useful for all of you and thought I'd share it. Be watching this level and a potential breakout - it could confirm a bull run!

Like my work and follow me if I have helped you.

Thanks for reading. :)

Sep 23
Comment: Recently retweeted a post about the bitcoin volatility index being at a low. Last time this happened, the bull market ensued... 9900% return from then... FYI
If I have been helpful, please like my work and follow me, it helps us both.

Writing a 100 page book on trading. The first 100 to get into my discord group get it (and more) free!
Thank you!!
Great stuff, my friend!

In today's BTC analysis I discuss 6800 top | Weekly price flipping | Sideways ranging here could break down to $6500s:
Thanks for your analysis. Check out our 3 scenarios
We agree it is exhausting the pattern and is getting ready for a key break out soon. We have reached our upside target and 1W Lower High (6,800) and now were are shorting again towards 6,300:

After deep consideration of the data this is my thoughts strictly from TA perspective.
Come on people, give this man a follow, shiet he knows what's up!

Awesome work on this one, ties up with what is expected end of this month, (either SEC approving ETF), if not, worst scenario (BAKKT ETF) in November.
+1 Reply
YoungShkreli RichardTom
@RichardTom, :). Thank you for your support. If you are not in my group, message me about joining.
Thanks a lot. That's a great signal. Let's hope we break up, I am looking forward to a more bullish market.

We had enough of the bear sentiment and mentality...

+3 Reply
YoungShkreli alanmasters
@alanmasters, Agreed, friend. Bitcoin volatility index at yearly low. Big move should be coming - hopefully it is up. Thanks for writing.
+3 Reply
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