BTC continues to moves past strong resistance lines and the 200 day MVA, and bull are getting excited.
What I see is that we are still retracing the broader move down. Yes, we are still in a down trend!
On the chart I've drawn some simple fibs based on the structured part of the recent downward movement, and they line up nicely. I would anticipate that we will...
In a market that hasn't got a long history, working out the timing for turning points is difficult.
This is a simple analysis (shown on the chart as vertical lines) of what I've observed with BTC:
- Major turning points in mid December, and late June (6 monthly cycles)
- Minor or sometimes major turning point early February
- The number of days between highs and...
Currently there is a lot of bullish sentiment. There have been some strong moves up in the last week with some modest volume, and we currently see the breaking of a bullish flash on the short term (not seen on chart).
However, I feel the chart shows us moving lower in the coming weeks.
As shown on the chart, we are approaching the 200 day MVA, some major...
Six indicators suggest this target:
1. From the peak of the bull run we have a Fibonacci extension finishing at the 2k mark.
2. The more recent range down Nov/Dec 2018 has a similar target at 2060
3. That same range down (orange line) repeated from the peak a few days ago lands us in this same zone and gives us guidance on timing
4. The trend line we have just...
