HugoRomano

The double top, and back again

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
196 6 6
Here, the 5' Graph for the 8500 resistance

Parabolic formation and RSI history


Actually we see 2 fat trendlines which lead the market, I mind that it was just a correction and we will go back at 6000.
The motivation of this last hours is due of the market bullshish.
But all of us know the differentes supports, 6000 was not the stronger one.. If you check the volume , you can see that the bottom canddle is not the stronger volume , were did you see that before? (never) What ever, the most importante thing is the past, in a parabolic formation, we get a price retracement of 80-85%, actually we touched 70%.
The last one was the drop from 10500 to 7600 with a 62% retracement, now the drop from 9500 to 6000 with a 70% retracement, and you know that the last one will be the bigger with a retracement of 8500 to 4000, so a 80% retracement. Everyone think about this idea and loosed the perfect bullish ascend that we seen a month ago. To be sure that the market will go to the moon, we need to come back earth, take some fuel, and go again.
For the RSI (Days), it will down to his lowest point, so 20 (level).
Look at the graph ''parabolic formation and RSI history", you will see by yourself.

It's my first publish idea, i know that my english is not perfect, so i'm sorry if you don't understand...
#Happy to join the community
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Will it broke ?
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Related Ideas

Someone know the pareto law? 80% 20%?
Look 20000 to 7600 = 62%
7600 to 9500 = 25%

20000 to 6000 = 70%
6000 to 8600 = 43%

62 + 25 = 87%
70 +43 = 113%
(110 +87)/2 = 100%
perfect compensation. If the level up more, the correction is done
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Break confirmed, now let see if it break the 8000
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I still have my doubts that will get that low, but from a technical standpoint you're 100% right - we should. Every night when I go to bed I put up my "Hail Mary" orders and that $4K order is in there along with equally low buys for a few alts, so I'm hoping it plays out.
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HugoRomano Box1515
yes, i do too.. we will see what's happen in a few hours...
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Great work!
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@JUNS, Thanks you :)
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