BTCUSD : Strange but real

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
925 3
  I prepared an analysis that might be useful.

The state of this bitcoin days is probably not out of two states:

1. The price rises to the bottom line of the red triangle, 9500, and then falls to the 0.786 Fibonacci area, 6500.

2. If the price breaks 9500 and enters the red triangle, it is very likely to break the upper line of the triangle and rise to 11000.
It is less likely that if the price returns to the bottom line of the triangle, 9500, it will fall to 6500.
Oct 27
Comment: Hello friends.
Notice the following chart:
In many cases, Fibonacci lines can clearly indicate market support and resistance. The 61.8% Fibonacci line is always important to bitcoin, and you can see in the chart how it plays its role as support first and then breaks it as resistance.
As the chart shows, the price has not yet been able to break the 61.8% resistance, ie $ 9441. (Note that it is said when a support line and a resistance line are broken when at least 2 consecutive candlesticks at a time of 4 hours or more are closed above the resistance line or below the support line.)

 Result : If the 61.8% Fibonacci retracement is broken, the probability of bullish is high, otherwise we are expecting the price to fall to the 78.6% Fibonacci retracement line of 6600.
 Thanks for your attention.
Oct 28
Comment: Fake failure!!!!!!!!!!

Oct 29
Comment: Everything is ready for Bitcoin's free fall. !!!!!

Nov 08
Comment: It is acting as predicted.
The 61.8% fibo line showed good resistance.
How beautiful.
Nov 09
Comment: Feel free to share your opinion in the comments section below.

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Keep in mind that the analysis provided is not 100% accurate and that you can never be certain with the markets. This information given is not financial advice, always do your own research.
Nov 13
Trade active: This analysis is still approved.
Excellent charts buddy
alimannn ArnaudKleinveld
@ArnaudKleinveld, Thank you for your comment.
+1 Reply
@alimannn, You're welcome. Keep up the good work. Cheers!
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