retrorecall

BTC pullpack to 6000 levels in weeks to come

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Looking at the Fib overlays, BTC             is moving around the .5 and finding resistance at the .618 range in the more immediate trend and in the longer range fib.
Applying the Fib time zone we can see that from the formation of the high at Mar 5, the next two segments of the fib trends are a repeat of itself, there are double bottom adams that repeat in zones 1 and 2, I've indicated them with the letter 'A.'
In the 2nd segment, there are two double top eves. Although the zones do not fit the exact trend, there can be a case made for a repeat of this pattern as a continuation of trends in the current trend segment. I am still bearish on BTC             , moving to test levels at 6000.
why exiting the downtrend just to come back and look for a lower low ? i think the pullback will be simply a correction for testing the old down channel and hopefully find support over it to confirm the new trend.
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retrorecall greyfox44
@greyfox44, yeah that's a very valid question. In Logarithmic analysis, BTC hasn't yet cleared the down channel.
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bagholder11 greyfox44
@greyfox44, So you are predicting the 4 month bear run will end soon? That's a big call.
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