BullFish
Short

BTC Sharp Channel Down

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
232 7 6
We couldn't break out of the larger channel (yellow) and broke down out of a wedge . Like a similar pattern and setup we had a sharp fall. I think we'll be in a similar steep channel down for a few days. Looking at targets 555-550 for small bounce and then 540-545 for a bigger bounce.
***update. We just tagged 545. I think we may have a bounce then back down to tag 537ish and then we may have serious attempt to crack the yellow channel***
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***update. We just tagged 545. I think we may have a bounce then back down to tag 537ish and then we may have serious attempt to crack the yellow channel***
+1 Reply
Those are a lot of lines !! Keep up the hard work :)
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BullFish Ahmed-J
hehe thanks. My architecture work is creeping into my charting :)
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johnrfraser BullFish
Haha, interesting to hear that. What sort of architecture do you do?
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BullFish johnrfraser
hey John, I mostly work on residential projects at the moment. I'm doing contract work from home and so have a chance to get some serious charting done in between work and can spend time watching the charts while not annoying my boss :)
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johnrfraser BullFish
Hi JMatth, thanks so much for your EW samples the other day.
Guess we've hit your yellow channel now!
Hope the architecture isn't taking a back seat during all this action...I'm a 3D artist (interiors) so know how it feels ;-)
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