Bitcoin — The only analysis you need. Harmonic AB=CD in play.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Chart is more important then words:
We have ideal ABCD harmonic pattern.

Using Fibonacci retracement tool on leg AB, the retracement BC reached the 0.618 level. The line CD should be the 1.272 Fibonacci extension of BC .

The length of line AB should be equal to the length of line CD.
The time it takes for the price to go from C to B should be equal to the time from A to B.

RSI shows bulls signal.
MACD reversing on daily chart .
Volume will be increasing this week.

"Buy Bitcoin ." Invest in alts, good luck ;)

  • "Time is more important than price. When time is up price will reverse."
  • William Delbert Gann

PS: Check Related previous Bitcoin and Educational ideas:
Trade active: Bitcoin in black channel, i will use bottom of this black channel to open new Long trades, and top of this channel to close it, and open short trades.
Trade active:
Comment: If black channel will be broken down, it will be good sign of further downward movement to 8800-8400 price levels

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The magenta candlesticks really bring out the calmness during FUD
+1 Reply
The target is the same? 8800 8400???
+1 Reply
GUilhermetv GUilhermetv
td1901 GUilhermetv
Didn't it break $10400 few minutes back ? what is the black channel lower bb sir ?
+1 Reply
I like the idea, but i believe you entered at a bad timing, it doesnt look good on GDAX. Massive sell-off beware....
@Acel, It seems you were right
Your active trade, is my Closed trade.
Can you show us a SHORT strategy please?
a.shevelev002 thebumtrader
+1 Reply
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