K155MY4R53
Short

Bearish Forecast Becoming Reality Sooner than Expected

BITSTAMP:BTCUSD   Bitcoin / Dollar
830 3 6
It looks like we're coming in for a third contact with the lower mid-term support when every other contact with these purple lines has been a single touch before traversing to the other one. It seems obvious that the orange resistance is coming into play even though it's a good distance away from the current price.

The RSI has broken down from the steeper gradient that I predicted, however, I don't think we'll see fireworks before it breaks that second, lower gradient that was actually in play rather than just predicted. The price has been propped up for almost a week by that long-term 0.236 (372.74) fib retracement. That looks like it's about to yield with the price getting intimate with it as I type. Once broken, I'd forecast a fairly strong bounce off the mid-term 0.5 (364.27) fib retracement and mid-term support (purple) before meeting resistance from the fib lines and finally breaking that mid-term support. However, if the RSI manages to bounce off that second gradient, there could be some upside left in the coin yet. Buckle             up.
K155MY4R53
2 years ago
Hyperbolic RSI Update
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K155MY4R53
2 years ago
snapshot

Indicators have been rejected, cave exploring is imminent.
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K155MY4R53
2 years ago
snapshot

There you have it. The break happened a little earlier than I expected but hopefully it didn't catch you by surprise.
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