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FibnFork
5 janv. 2018 18:13

Bitcoin at key resistance area 

Bitcoin / United States DollarCoinbase

Description

Area we're looking at
  • Previous 27th december high of $16490
  • .618 retrace of 17/12 -> 22/12 fall
  • Near term end of 5th wave? Parallel channel connected off 1st-3rd/2nd-4th waves seem to indicate it
  • .1 extension off 2nd - 3rd - 4th wave
  • Rsi nearing 80
  • Medium term Channel high at ~17k

Commentaire

2 tests at breaking this parallel channel/17k level properly.
Need momentum/volume for a clean break like previously on 5th jan and 2nd jan

Commentaire

Dipping down towards elliott wave channel

Commentaire

On way back to retest previous support
Commentaires
TStolpe29
Try to make the chart easier to read. I personally like all the bells and whistles but it is a bit cluttered
FibnFork
@TStolpe29, Fair enough, just wanted to zoom out for the full picture
TStolpe29
@Chalfie24, still a great chart!
tigerpause
Good work - thank you for your efforts and for sharing. Is it reasonable to derive a retrace to 15520 off the resistance at 17k? Another tip incoming for you tomorrow BTW :-)
FibnFork
@tigerpause, Assuming we've formed a short term top here I want to see what pattern starts forming. Move towards bottom of channel could be possible or even retest of triangle breakout
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