My rendering of ArmstrongEconomics chart that he published on May 14 2018.
We have broken weekly support and need to retake 8000 to invalidate the pattern. Support at about 4500
We have broken weekly support and need to retake 8000 to invalidate the pattern. Support at about 4500
Trade active:
Updated chart with lines extended.
Note that there is now a larger divergence in price between Bitfinex and other brokers than before
Updated chart with lines extended.
Note that there is now a larger divergence in price between Bitfinex and other brokers than before
Comment:
I have placed a new Andrews type fork over the price action. I have extended the original lines now in orange. Await support at purple line current price or solid orange line beneath
I have placed a new Andrews type fork over the price action. I have extended the original lines now in orange. Await support at purple line current price or solid orange line beneath
This chart is an updated version of the above one.
I have added another descending parallel which could bring us to our target this week.
We need a bounce to enter with a long position