BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
It looks like a big ABC Elliott wave pattern has already been fully implemented. The price dropped to the level of fib 0.618 and support in the 8000 or 6500 areas expected.
Comment: BTC still under pressure. Retrace up to 10000 likely be short-living.
Comment: Bullish divergence on 4H timeframe. Likely, we'll see some bounce. A move above 9500 opens way to 10500.
Comment: Bottom at 6000 - gooood. May be not temporary:
Comment: Moving according to the plan. The higher the price, the greater probability to turn up the trend.
Comment: Above 9600: targeting 10500 and new higher highs
are you sure the EU won't dump it?
Like2Move alexplq
@alexplq, I'm not sure about many things. I watch market behavior and price action.
+1 Reply
If you are saying down then we are down. I know that you know this game well
$6500, wow, I did not think that was going to happen. now it looks more likely. thanks for the chart. around $6000 is the former trendline, before bitcoin went crazy, so it won't be surprise. some people are caught up with 200 sma/ema, but I think that they are not as important after a parabolic rise like this, they are merely bounce zones on the way to the pre-hype trendline, we may even break it with a bit of capitulation.
@cycler, expectations don't always come true - the price may not reach a low at 6500 :)
any updates?
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