Bitcoin - My areas of intrest

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin is most likely going to lower lows.
Yellow area will most likely give another dead cat bounce in the vecinity of previous low at ~6k.
Green area, between 0.786 and 0.886 fibonacci levels (from ATH to 0) is the are in which I expect BTC to make the last dip, in that area you an see the all time linear regression (from 2010, BLX ), and the uptrend that held the price since august 2015, I fully expect that line to hold the price and from there bounce and then go sideways in the white area for a couple of months before continuing going up slowly.
Blue area, I don't WANT bitcoin to go there.
Comment: Retraced to 0.618, touched major 0.5 fib.
Comment: Going to 0.618 line, it will bounce and then break to test previous low, then it will retest 0.618 from below then break down quickly, then it will go sideways for a while, maybe another dip below 4k to 2.9k or so, but I hope it holds 4k, that's where I'll buy and hold for a long time.
Trade closed: target reached
Im glad BTC broke up the downtrend before more down.
But it's too early to turn bullish. The price got rejected hard from 0.5 fib, Its going to range in between, and I think it will break down to a lower low and then go neutral for a while.
Damn . you've been pretty accurate up to now and are calling this without us breaking the support lines. I can't deny almost all coins look bearish. Sad.
+1 Reply
Vold316 renkcub
@renkcub, Yeah, 0.618 is week now, three times is a charm. Also something I didn't put in the chart that I have been watching closely is TD Sequential, last sunday it gave me a short opportunity in the daily at 8400 USD, and then weekly short opportunity below 8100, rather risky because 7.8k-8k was support but, it's crumbling... bless be TD Sequential because it told me this week was going to be awful. About altcoins, marketcap going down out of alts to btc to fiat, a lot of them will disappear at this rate, the scammy ones.
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