lewistz

BTCUSD - 1.618 FIB extension from top of 5th Wave

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
I am charting 7200 as 1.618 Fibonacci extension from the top the 5th wave formation (6150). It has not been able to rally back above that line since the punch through overnight. It has tried and failed around 7190. There is not much support up here and it falls through 7000, I think will start to see at least a small correction of sorts. Possibly back down to top of 5th wave 6150 or if that doesn't hold 5700. Its really strange trading conditions right now, besides the the beast of a bull market you have Segwit2x looming. So my guess we don't get full correction until that is through, but I doubt we see it holding above 7k for very long. Top of 5th Wave seems a safe, well supported and place to ride it out until Nov 16th.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out