The bears have been in firm control of the BTC market for a few months now. We recently tested the long standing downward pointing price channel and have resolved bearishly. Indeed, as of my last post, I was trying to sell some BTC in that topping area and was only able to get filled on 1/3 of my order (61.8 tag, 705. tag and 78.6 tag). As a sign of just how weak BTC is, we were only able to work our way up to the 61.8 fib and then failed. Over the short term I shall be looking for a battle in and around the 428 area (OTE long sweet spot). If that fails I fully expect the lows of 410 to be tested in earnest. Additionally, if that 410 level is broken it leaves a move down into the higher time frame OTE long zone open to be tagged and a serious test of the lower end of our price channel mentioned.
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If my charts help you, or you use my indicators...
please consider a BTC donation to allow me to
continue my work :
1EBttA56cWsgtsZn83VGiNT8si7inZV5Z5
& follow me on Twitter @CRInvestor
Additionally, if you have questions about my indicators feel free to inquire as to when my next Google hangout tutorial session is scheduled so you can ask me in person...
(or go here: www.google.com/calendar/embed?src=YTJscj...)