ronfkingswanson

Watch the 50% retracement for signal of consolidation or failure

BTCE:BTCUSD   Bitcoin / Dollar
377 6 7
In steep selloff movements, once a bottom bounce has been established, an attempt is made to consolidate around the 50% retracement . In a stable pattern, the oscillations should narrow around that range, eventually flattening sideways to indicate consensus about the new floor. A very strong signal of failure to consolidate will be seen if the current oscillations stall on the way back up, instead of always returning to the 50% after dips. Any sloping down movement *after* a lower oscillation wave node would be a good indicator of another incoming selloff, as the consolidation period will have failed.
flibbr PRO
3 years ago
I'm going full fiat. See you all at $270
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ronfkingswanson PRO flibbr
3 years ago
ah flibbr, a gentleman's troll if there ever was one ;-)
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mushroom
3 years ago
Damn i start reading your comments in rons voice...
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ronfkingswanson PRO mushroom
3 years ago
in my dreams...
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B10ckLanders
3 years ago
thanks, as always, i look forward to your posts and insights.. also, great to see BTC-E instead of gox. nobody i know trades on gox... i hope others follow your lead :)
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wacked
3 years ago
hah flibbr is on you ron, like white on rice.. lol Good one!
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