As everyone is eyeing $10,100 as the next horizontal resistance, I wanted to share a longer term chart which is a mixture of trend lines, fib retracement levels, fib circles and the 140 moving average on a 4hr time frame.
On a weekly chart you can see the trend line being formed since the 20k level at 2017 until now when using the body of the candles.
You can also see the massive trend line which has been formed since the summer of 2015.
Also visible is that the 9950 level is the 50% retracement fib level.
On the bottom chart you can also see the current price action zoomed in to the 4 HR chart and the upward parallel channel we're currently in. We did just touch the top and we are currently making a correction.
At the moment a retracement to the support level of 9200 in the next
3 days seems likely.
The fib circle as you can see has been respected in the past and on October 25 the big pump found resistance exactly at the ring.
Credits to @snookerer for the fib circle and some of the trendlines!
On a weekly chart you can see the trend line being formed since the 20k level at 2017 until now when using the body of the candles.
You can also see the massive trend line which has been formed since the summer of 2015.
Also visible is that the 9950 level is the 50% retracement fib level.
On the bottom chart you can also see the current price action zoomed in to the 4 HR chart and the upward parallel channel we're currently in. We did just touch the top and we are currently making a correction.
At the moment a retracement to the support level of 9200 in the next
3 days seems likely.
The fib circle as you can see has been respected in the past and on October 25 the big pump found resistance exactly at the ring.
Credits to @snookerer for the fib circle and some of the trendlines!