BTC looked like it was about to break down sub-$3k early this morning but we were pleasantly surprised
We were trending sideways right on support and we got a strong volume breakout
We blew straight up to the Monthly open, which was right under a supply zone
We basically tagged that supply zone and have backed off so far
We are consolidating at the moment...
BTC continues to show weakness as it cannot get a reaction from bulls
We did create a new gap this week and almost filled it but it remains open
We are currently breaking below support here and the next logical spot is a retest of the lows where a gap remains as well
If we do not get a strong showing by the bulls then we could expect sub-$3k prices
BTC has moved higher recently after breaking through support
This region has now become resistance and this can be shown so far by the rejection of price on that last push
We haven't really seen bulls come in with volume to defend these prices and with the gap still open below, the odds are high on a fill soon
We would need to regain this supply zone for...
BTC continues to show signs of weakness
We were in a descending wedge that did not play out as we fell through the bottom of it as we neared the end
We did tap into demand once more and had a stop run right below it liquidating longs
We have regained the demand zone but the bottom of this wedge is acting as resistance so far
We still have the unfilled gap...
Hello, look in here! I continue the marathon to identify fractals. The graph above shows the dependence of price movement, which fits into the main Bitcoin movement forecast published earlier (click on the chart):
David's Fractal 2014 takes on the structure of the Optimistic...