1. Unquestionable swing highs and lows at 13,900 and 10,300 respectively give clear fib levels which line up with the consolidation area at 8,000 in the previous months.
2. The closest support at 10,000 has just been broken, so there is nothing left until the 9,000 support which was established over more points (April 29, May 17, and June 9) and over a longer period.
3. I believe that BTC will either break below 10,000 straight to 9,000 and bounce, or dead cat bounce off 9,000 (previously mentioned support) and head for 8,000 (fib extension and consolidation area).
4. This should resolve in roughly 2 weeks.
BTC has proven me wrong before but I believe the most recent parabola is over.
Comment:
Initially broke downward as expected but then broke through first resistance to peak at second resistance/100 MA.
Comment:
Welp