BTC currently trading beneath the .5 Fib at around the same price level when in June before it made its big blowoff high. Notice that an eerie similar price pattern has formed to match.
AFTER LOOSING SUPPORT 730DMA SUPPORT IN:
1. DEC 15 WE DROPPED 53% TO FINAL LOW.
2. NOV 18 WE DROPPED 43% TO FINAL LOW.
3. OCT 19 WE MAY DROP 33% TO FINAL LOW.
THIS SHALL TAKE TO JUST UNDER .786 FIB AROUND $5135 PROVIDING WE GET THE MOVE DOWN NOW.
MOST PROBABLE OUTCOME LOW.
I THREW IN A 43% DROP WHICH ALSO LINES UP WITH PREVIOUS PRICE STRUCTURE AND A .9...
Apologies for the Log scale, hate them personally.
Remarkable really how prior highs have been greatly respected here with LInk. In addition, we have the same Fib extensions (3.33) used to give us the next major price high in the two last occasions, which is most unusual.
Now could be a good time to get LONG in LINK!
Currently sitting on the border of the accumulation zone. Being the tight ass that l am, l will be looking for entry at entry 2 (.95 fib).
As always your feedback is most valuable and appreciated.
WAS LTC'S RECENT UPTREND AT THE .705 GOLDEN RATIO THE REVERSAL AND $100 HERE WE COME... OR WILL WE HAVE TO WAIT FOR A BOUNCE OFF THE .786 FIB AND THE LOWER GANN TIME LINE AT $50 TO GO LONG?
HAVE YOUR SAY IN THE COMMENTS BELOW!
INTERESTING TIME FOR XRP.
POINTS OF INTEREST
1. STRONG RED TIME LINE CURRENT AND LONG TIME RESISTANCE
2. STRONG RED .5 FIB RESISTANCE WITH NEXT UPPER GANN TIME LINE RESISTANCE (POSSIBLE TAKE PROFIT AREA)
3. STRONG CURRENT SUPPORT AREA HOLDING HAVING HAD A NICE ACCUMULATION PERIOD, HOWEVER IF THIS BREAKOUT FAILS NEXT HISTORICAL SUPPORT 16 CENTS.
Gann says time is up for big move either way, Currently holding crucial support of timing lines on both my long term and medium term origin durations. Failure to hold here will see price head towards the high 7000's or the upside break will see BTC break previous trend high created several months ago. My bias is towards the upside due to
1. The strong time line...
Firstly you will notice just how price is respecting Gann trend or time lines from the Cycle Bottom in this move up thus far. Should price not hold support l expect a move down to the 1st purple box of support. If that fails to the second purple box.
Higher probability l give to the nearest box of 6650-6450 region becoming Support. This is a retracement of...
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