firhat.nawfan.h

This 4H correction is to weak against 1D & 1W Bull Pattern

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
1D & 1W correction is long overdue but yet to come, market are just too emotional right now, however this 4H correction is just to weak,
we still manage above 7000 and it's likely that BTC will hover > 6000 for a while as it is the breakevent point for miners,
If BTC failed to drop under 6000 we might be seeing consolidation in the near future
Are you expecting sub 6.9k ?
Reply
@HoudiniX, yes, but i suspect once it went under 6.9k sharper retraction will happen, right now the market is trying to gauge sentiment,
which is quite weak, we might be seeing double top on weekend, if it failed to go past 7300-7400, retracement is more likely a the 1W pattern will try to test weekly cloud.
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