Rashad
Long

Possible Bitcoin Reversal (Alternate version to previous chart)

BITFINEX:BTCUSD   Bitcoin / Dollar
108 1 2
The difference with this chart is that I flipped the Fib arc the other way. It seems to be clearly defining areas of resistance and support. Otherwise this is the same chart essentially. What is interesting is that Bitcoin won't have to break the next upward fib target if it breaks out of the falling wedge...

This theory is based on my previous charts which try to show why Bitcoin has bottomed out. Please see my linked charts for more info!! Also unlike my previous charts which used Bitstamp (which hopefully recovers soon), this chart is using Bitfinex, so you should be able to load new bars.

***UPDATE*** Oops accidentally linked my SPY             fib arc, sorry that's unrelated. Here is the chart I meant to link instead:
Possible Reversal in Bitcoin: Falling Wedge inside a Fib Arc
Rashad
2 years ago
Oops accidentally linked my SPY fib arc, sorry that's unrelated. Here is the chart I meant to link instead:
Possible Reversal in Bitcoin: Falling Wedge inside a Fib Arc
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