Channel Down broke sideways. New Lower High attempt confirmed.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
With the 1D Channel Down breaking sideways ( RSI = 45.128, ADX = 32.908, CCI = -19.9560, Highs/Lows = 0.0000), Friday's 1D Doji Star bearish candle practically took BTCUSD nowhere as 4H remained ranged within 6,356.30 - 6,593.70 ( RSI = 50.556, CCI = -55.3096, Highs/Lows = 0.0000), closing out the week on a positive note = +5.31%. The monthly candle remains on losses (-7.75%) and the last two sessions on the second lowest volume of the year. Despite the Higher Lows, it is clear that since the 6,130.3 bottom, Bitcoin undergoes a consolidation phase with equal demand and supply, which according to previous models is a support preparation for the next Lower High on 1W on the 0.618 Fib level = 6,915. We are prepared to place an additional short on that level. The targets are always 6,082.70 and 5,609.10 in extension. Again it needs to be noted that the trade towards the 1W support zone = 6,080.8 - 5,762.9 is projected to be a very slow process in the next 1 - 2 months.
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Love the charts!
@COINLIFE, Thank you for your support!
Great work brother,

Perfect BTC call, super sell move, check it out guys

+1 Reply
@weslad, Thanks for sharing Wes!
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