BTCUSD to test 5950? Another Tale of Two Fibs
Updated
There seems to have been two impulse waves down from the 8500 area.
Each impulse caused ripples that are well defined by the Fib Extension Ratios.
5,950 (about) is where important extensions of both fibs align.
Not calling that the bottom, but watching it for a good bounce.
Each impulse caused ripples that are well defined by the Fib Extension Ratios.
5,950 (about) is where important extensions of both fibs align.
Not calling that the bottom, but watching it for a good bounce.
Comment
Caught a bit of a bounce at the Red 4.236 extension.Comment
Both fibs clearly in effect still. Comment
Here we are, will it hold? Comment
Got a wee bit of a bounce at the fibs Close up
Comment
Trade closed (at least 75% of position anyway) Comment
Both Fibs still holding price captive. New fib in orange looks to be perfectly in sync. Closeup of the new micro Fib (orange) and how the -.618 extension lines up perfectly with original fibs
Comment
Support/Resistance builds like tree rings.Comment
Nice break out. The green fib new, added from bottom at 5950 
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