Exsilium
Long

Bottom Channel is Approaching - Targets

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
147 0 4
After studying the pattern in this channel I determined that the angle of rebound from the bottom channel line resulted in a 57-77 degree advance, with 60 degrees being the average.

Assuming we stay flat in a 10-20 range we will hit bottom channel on 7/18. The rebound from there should take us to 730 at the mid-line, which has provided resistance/support 3 times since it has been in play. Beyond there, we are looking at a 850-60 target at the top of the channel. The 720 area also played resistance in March and support in February.

This channel has been very accurate over an extended period time. In my opinion a break of this lower channel would be catastrophic.

Price is also around the weekly pivot which further provides support for a rebound from lower channel.
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out