I've labelled everything for you so you can easily understand it.
We've got a in price, which just means higher lows (green circles) and lower highs (blue circles) since we reached $9,100.
And from our previous run up to even get to this level has left it's own (yellow circles).
Now I know some people dismiss sloped because they're subjective, but ~ they work. You'd never trade off them alone, but they definitely add confluence when helping to make a decision!!
Now check it, all 3 overlap at a single place.. and then if you run the Fibonacci tool from the low to the high, it places the 61.8% fib (golden pocket - marked in gold ) right on that centre. (marked in red).
Then guess what happens just after that? CBOE expiry.. Which I've marked also, which will be 6-7AM 20th June 2019 for us (AEST - VIC/SYD)
So while everyone's out there making silly predictions, know there is more at play than just 'up or down'.
This is no prediction of price post, but just a heads up on what's going on and why the market feels like it's shifting from to every few hours. It's because it is by constantly making a higher low, or lower high. but until we get a HIGHER HIGH or a LOWER LOW, we have no clear direction.
You can watch this chart play out here:
And why did the CBOE end its Future trading? Are they going to partner with a crypto exchange and they don't want to hinder its success by having people short it? Is it just a coincidence that Bakkt and Fidelity are suppose to open their exchange and trading platforms this month, the same month that CBOE is closing their Futures exchange? Do you believe in coincidinks? I don't.