As stated in my update yesterday Bitcoin had room for downward movement which is what happened today it dropped to 7300 USD price range however the trends have impulses on when going on a bull run which I like using in my analysis (can be seen in my previous charts) so when having a downward pattern, a retracement, it should have impulses which is what I have shown in the chart above, named 'Retracement 1', 'Retracement 2' and 'Retracement 3'. So Bitcoin has broken out of the 'Retracement 1' and dropped down as soon as it hit 'Retracement 2' so it acts as a resistance which is what we saw getting closer to 7600 USD. So the next move should be downward movement to 7100-7200 USD price range where it should hit 'Retracement 1' and rise to test to break the 'Retracement 2' impulse after which we should be moving
to test 'Retracement 3' where we should drop and hit 'Retracement 2' where it should act as a support and we should breakout of 'Retracement 3' and be out of correction...
My predictions have been coming out about right lately, so I hope this one comes right too..
Good Luck, Traders!
Ashanti!
to test 'Retracement 3' where we should drop and hit 'Retracement 2' where it should act as a support and we should breakout of 'Retracement 3' and be out of correction...
My predictions have been coming out about right lately, so I hope this one comes right too..
Good Luck, Traders!
Ashanti!
