BTCUSD going for a Nine'r (9.618) or is Band 7 the End ?
Updated
BTC has been following this fib for some time now.
Each band has repeatedly made its presence felt.
Band 8 rejected twice but bulls hit higher bound.
Band 7 is the current battle zone going into London Open.
London/Frankfurt usually sell early, especially if at resistance.
Band 6 as usual was not powerful, so Band 5 might be support.
Bulls want to avoid at all costs a revisit to Band 4.
Bears want to avoid at all costs a revisit to Band 8.
Thus our Trench Battle is defined to Bands 5 and 7.
Bulls will want to be very alert if approaching Band 9.
Bears will defend hard the 9.236, to avoid trying 9.618.
Stop Squeeze above 9.618 might propel to 11.618 quickly.
The 9.618 is often a Murderer of Moves, such as this spectacular example:
Each band has repeatedly made its presence felt.
Band 8 rejected twice but bulls hit higher bound.
Band 7 is the current battle zone going into London Open.
London/Frankfurt usually sell early, especially if at resistance.
Band 6 as usual was not powerful, so Band 5 might be support.
Bulls want to avoid at all costs a revisit to Band 4.
Bears want to avoid at all costs a revisit to Band 8.
Thus our Trench Battle is defined to Bands 5 and 7.
Bulls will want to be very alert if approaching Band 9.
Bears will defend hard the 9.236, to avoid trying 9.618.
Stop Squeeze above 9.618 might propel to 11.618 quickly.
The 9.618 is often a Murderer of Moves, such as this spectacular example:
Note
this will NOT be easy .
Note
so bulls Ping'd the 9.382 higher than the .326, a pretty good sign .
Note
Moment of truth .
Note
Like an ant whose antenna hits something .
Note
Bulls need to hold Band 8 to keep herd from freaking .
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.