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FibnFork
Jun 4, 2019 1:56 PM

Bitcoin correction 

Bitcoin / U.S. dollarBitstamp

Description

After briefly hitting 9k & subsequently reversing sharply, bitcoin could find support on the 100% extension (ABC correction with A=C). Along with this extension is another support level (FEB 2018 reversal close).
The key support is lower though, around $7400. If that breaks expect a dip below 7k.
Comments
miaomiao18
Hi Chalfie, Thanks for sharing your idea! What does the redness on "My Script" on your chart mean?
FibnFork
@miaomiao18, It's just when RSI is above 70 or below 30 (although that should be green)
miaomiao18
@Chalfie24, okay I see, thanks!
if BTCUSD is gradually up and down in the downtrend channel, what do you think it will affect altcoins performance?
FibnFork
@miaomiao18, I don't pay much attention to altcoins... sorry
miaomiao18
@Chalfie24, Thanks
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