BTCUSD Demark Indicator, 8 candles, consolidation, fibs Ok, the channel in my last BTC chart did not do very well. The floor was too weak. So I have removed the floor. Let us look at things with the Demark indicator and fib levels. As you can see, the candles are bounce between 61.8% level and 38.2% level. This looks very much like consolidation. So a bit of horizontal movement. When we add the Demark indicator into the mix we see that in many instances we fail to achieve a 9 candle and the price reverses on an 8 candle. This would indicate to me that people are preempting the reversal but getting in or out on the 8 candle as the know 9 candle is normally the reversal. This would also indicate to me market cautiousness.