BTC retraced today exactly to the 61.8% fib level, retested the bottom of the parallel channel it is in and if it can push up through the right should of this pattern with increasing volume, the expected target would be in the $5000 to $5300 range, which is the target from the H&S pattern along with hitting exactly at the 161.8% fib extension. Let's see what it...
For everyone saying we are just like in 2014 right now and we'll be down for a year..... The recovery from the 2014 bear market from Aug 2015 to Aug 2016 started when price hit the bottom of this channel. From there it recovered. BTC has now hit the bottom of the channel again, so if you say this is just like 2014, then we should recover the same, right? So...
I've been following the rounded bottom for some time, and decided to add a rounded top to accompany it a few weeks ago. If we have a rounded bottom, have we indeed also broken through the top if drawn the same way?
