TheHeroes

BTCUSD. Return to the main channels?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
In my last idea, Btc, was going down until the beginning of March, a few days later we witnessed another fall that broke the supports as if they were paper.

In this chart, I will try to clarify.

FOR THE FIRST I DID NOT EXPECT ALREADY NOW LEVELS UNDER 6500.

Ok, I'm not sad because in all my main ideas I became btc short.

Then:

1) 2 main channels have accompanied us since the middle of 2017. The red one and the highest one in blue.

2) From the end of November 2017 btc             broke with extreme force the blue channel going up more and more.

3) Currently btc             has returned to the main channel, the red one.

4) I put 2 fibonacci. The main one in black, and the colored one is an extension of it.

From these 4 points, I say my opinion:

- Now btc             could retest the red channel, which is a dynamic resistance. If it goes down, it will go into the $ 5400 area (note that in this area there are old supports and a level of fibonacci 0.5! ).

- Otherwise, BTC             may rise momentarily to touch fibo 0.786, or stop at the resistance (orange line).

- If BTC             falls into the blue channel, before going all-in long I would personally expect mid-March.


I suggest you to understand the big picture, to see also my other 2 main ideas that I have linked below!
Trade active:



Price closed lower than Yesterday, and 7.85k is now new resistance.
In the coming days we need a bullish boost.
Trade active: We have arrived near the last dynamic resistance (orange line), which in the 4h graph has surpassed and has gone up to touch the level of fibonacci.
Currently btc is nailed to a very important area.

If BTC exceeds the fibonacci level, in the next hours / days, I expect it to reach the $ 12500 zone, near the upper blue channel.

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