Fib Level + Support for BTC = Buy Signal

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
This next drop should find significant support at the fib + previous resistance, now turned support, level. Depending on the strength of this bounce, we could see a run up to 10K... or just a big dead cat bounce down to $3.50...

Comment: This current drop showed a reversal in the lower time frames with a diamond / inverse h&S reversal, however it got stopped and retraced leading towards a Bear Flag being made.

Unless we break that resistance, we're most likely going back down to the target support area I earlier depicted.

Comment: Bullish signs appearing on BTC... looks like a bounce incoming.

Comment: Spinning top closed on the daily and we're seeing but volume come in.

Long the ponzi
Comment: Inverse H&S in the making :

Comment: Inverse H&S rejected. Stop Loss triggered.

New pattern at play : Descending Broadening Wedge

Still got my short @ the top open.


You think that if you wish hard enough it will come true? You're predicting whole right shoulder...!
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Market Not healthy!!!Market sick!! Platz senden doctor, thx.
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In the meantime, I'm playing with the following idea...

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@TheWolfofPoloniex "Bullish signs appearing on BTC... looks like a bounce incoming. " could you explain what these signs are? Just for educational reasons :) Btw thanks for sharing!
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@MuMPiTz, Maybe he was looking at Ichimoku cloud, which is getting thin?
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@MuMPiTz, bullish divergence. candlestick patterns.

These are all things I teach on my youtube videos. Go learn all of that and then use my charts to practice and see why you think I would come up with my TA.

Studies show that this style of learning / teaching (Montessori) will help you retain the information better, instead of being spoonfed.
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TheWolfofPoloniex TheWolfofPoloniex
@TheWolfofPoloniex, oh. Also the ichimoku cloud, as jureptrovic pointed out
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MuMPiTz TheWolfofPoloniex
@TheWolfofPoloniex, thanks! I will watch them. Whats your nick on YT? Couldnt find anything under WolfofPoloniex
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Thanks for the update!
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Thank you, Sensei!
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