Dale_G

One Day Bitcoin Analysis

Short
BITMEX:XBT   Bitcoin / U.S. Dollar Index
First Assumption: We are currently being rejected from the golden .618 fib on the daily chart .
Second Assumption: Gann Fan indicates pattern is bullish overall (Above 1/1 Gann Line) however trending tends to fall to the bottom right Gann line (1/1) for support which it should do after losing the previous Gann line (2/1) support. (Unless somehow it retakes 2/1 Gann Line)
Third Assumption: Stochastic RSI is turning downward which indicates an impending downtrend.

First and Most Convincing Possibility: All three of these occurring at the same time leads me to believe we have a LARGE dump incoming. (Between 1-6k IMO)

Second Possibility: I have done something completely wrong and this is all incorrect. ( Very Possible Third Possibility: Golden Fib is held and whales take us to the moon. =]

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