BTC/USD - Bullish 5-0 Long

Bitcoin / U.S. dollarBitstamp

Description

⋅ Jan 15, 2017 5:19 PM

Interesting setup on the Weekly chart for BTC/USD with a bullish 5-0, as you can see price has just reached the highs of 2014 at 1138 and bounced.

I'm sure we will experience a temporary decrease but soon enough the bulls will be back, keep an eye on this pattern completing!

Comments

Eski-yef

⋅ Jan 17, 2017 8:29 PM

it looks like BTCUCD correction is over

I think on your Fibonacci setup it should have been 38.2% retracement

PS
thanks for the ups :)

LewisGlasgow

⋅ Jan 17, 2017 8:33 PM

@Yefet, yes that's possible. I'm watching 1138 for a re-test regardless, the setup is based on a 5-0 pattern which requires a 50% retracement of B to C.

Thank you for sharing and you're welcome :)

OlivierDachkin

⋅ Jan 16, 2017 3:12 PM

Am I living in parallel dimension? BTC/USD is at +- 815-835 since 13.01.

LewisGlasgow

⋅ Jan 16, 2017 3:21 PM

@OlivierDachkin, What is your point?