ronfkingswanson
Short

retracement pattern from last ATH selloff appears again

BTCE:BTCUSD   Bitcoin / Dollar
844 9 9
Bouncing between the 0.618 and 0.764 fib lines in almost the same period and formation, briefly exploring past 0.764 before bouncing along again. Key moment to notice here is the last breach of 0.618 before the selloff. Doesn't mean we'll see the same vertical drop, as bad china news dominated the bubble selloffs, but we are right on the edge of long-term bear territory.
Its now flowing upwards from your triangle...what does that mean?
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bear territory it is
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Looks like we are about to dropout below the danger zone and into bear territory Ron.
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Can we say that the Danger is gone? cause $900 is fast approaching...
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Question: how did you drwa those Retractment lines?.. is that a Indicator found in Trading view?
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ronfkingswanson PRO DeanGoncalves
it's a drawing tool on the sidebar
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right on the edge now
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Thanks for the chart... Im very GREEN when it comes to trading...I predicted the rise last time..and appreciate this chart...so if your prediction is correct...how low do you feel we will drop?
$640 area? and then even lower? Thanks for this...
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everythig depend how candelstick close today.
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