StefanKassing

BTCUSD free fall or rebound?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
In my opinion there are two possibilities right now:

1st) 7871 cant handle the pressure and will give up so the market can fall down to the 6k area again. If the market will rebound there we may see a bottoming.

2nd) the market rebounds at the 7871 area and makes a higher high with the 12968 zone and starts a new uptrend

Interesting fact: the two times where the market tried to hit the 12k area are exactly in between the 50% Fibo from the previous long downtrend!

In my opinion 7871 will get broken and the market will fall down to the 6k area again.
Comment: seems like 7871 support couldnt handle it - like expected. the market is now close to the lower trendline. i am expecting a break from the lower line. i will keep you updated
Comment: remember: we still have an open GAP at 8,5k level. this level is a resistance at the same time. i could imagine to see that GAP getting closed.
Comment: This up move could be the GAP close i was talking about. its actually not closed exactly but good enough to accept it. lets now see if it really was only a GAP-close or the start of a bigger up move
Comment: the GAP is finally closed. lets see if it continues to fall again
Comment: for now it looks like the rebound option got selected. if 8963 cant handle it we will most likely see the 10k soon
Comment: we may see a 8963.p rebound
Comment: the market is close about to make a new low which would be perfect for our planned target at 6k!
Comment: we are about to reach the 6k level!!
Comment: the change from downmove to upmove at the 6,4k level could be counted as the second deep of the bottoming. if its that its for sure not the most beauty double bottom but technically it is ok. its actually a good sign if the 2nd low from the double bottom is higher than the first one -> chances are higher for a real trend change!
This up move could be the GAP close i was talking about. its actually not closed exactly but good enough to accept it. lets now see if it really was only a GAP-close or the start of a bigger up move
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GokhanD StefanKassing
@StefanKassing,


niceeeee. Immer wieder lernt man viel dazu.
Einfach nur hammer!!!
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