martin1000

BTC - DROP TIME FRAME

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Dear Traders

Some people say TA doesn't work anymore because this market is to violent but when we look at the chart above and FIB resistance we can see that they still in play.
So looking at fib resistance I will try to determinate time frame for incoming drop.
I will look at two possible scenarios:
no.1 ~$6000 level
no.2 ~$5560 level
These levels are our heavy resistance, black lines on the chart, now lets look where they crossing with fib ratios and that how we can find BTC dooms day :)
So based on above we should see::
Drop to $6000 level it on 24th or 26th March
Drop to $5560 level it on 22th march

As you can see I have used Fibonacci retracements as a leading indicator, to identify possible time frame forthcoming BTC drop.

This is for education purpose.

Happy Trading and Good Luck

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