To further my claims from my last chart where it was brought to my attention the 6th of each month seems to show significant price action I ave now decided to see how Fibonacci ties in.
From the price rejection at the upper trend line to the lower trend line touch today, the 0.786 & 0.618 re-tracement lines almost coincide with my predicted resistance levels at 9379 & 8786. Seeing where these lines intersect with the upper trend line indicate to me the lower resistance level of 8786 is more likely to be the tested target out of the 2 - unless we got a massive spike by the end of today, 9379 is looking doubtful.
Fib doesn't seem to give much indication to the bounce point off of the lower trend line. So I still assume a breakout between the 6th and 17th june - this second date is 73% of the distance of the triangle to the apex (132 / 181days) as stated in my last prediction although the triangle length has changed slightly.
The RSI is still looking ready to bounce off the 30 on the daily.
Another thin I noticed, the previous price drop started on the 20 feb and bounce on the 6 April (indicated in orange verticals) this took 45days. If we take it from the similar approx time of the first lower peak 45 days lands us again on the 6th june - coincidence again? Maybe. Time will tell.
7571 seems to be a heavy resistance level at the moment as this is also where the 55EMA currently sits and rejected any break through attempt. A short from now to 7160 may be a large risk but could pay off.
We may also btc roll over on the 6th.... thats not off the table yet if we don't break the 7500 area / 55ema.
This is not finacial advice do not listen to me, this is comedy for my pleasure.
From the price rejection at the upper trend line to the lower trend line touch today, the 0.786 & 0.618 re-tracement lines almost coincide with my predicted resistance levels at 9379 & 8786. Seeing where these lines intersect with the upper trend line indicate to me the lower resistance level of 8786 is more likely to be the tested target out of the 2 - unless we got a massive spike by the end of today, 9379 is looking doubtful.
Fib doesn't seem to give much indication to the bounce point off of the lower trend line. So I still assume a breakout between the 6th and 17th june - this second date is 73% of the distance of the triangle to the apex (132 / 181days) as stated in my last prediction although the triangle length has changed slightly.
The RSI is still looking ready to bounce off the 30 on the daily.
Another thin I noticed, the previous price drop started on the 20 feb and bounce on the 6 April (indicated in orange verticals) this took 45days. If we take it from the similar approx time of the first lower peak 45 days lands us again on the 6th june - coincidence again? Maybe. Time will tell.
7571 seems to be a heavy resistance level at the moment as this is also where the 55EMA currently sits and rejected any break through attempt. A short from now to 7160 may be a large risk but could pay off.
We may also btc roll over on the 6th.... thats not off the table yet if we don't break the 7500 area / 55ema.
This is not finacial advice do not listen to me, this is comedy for my pleasure.