BitcoinUpdated Bitcoin Technical analysis 11/16/18
ABCD Falling wedge final wave starting to paint :)
Looks like we triggered some downside to the .786 fib!
lets take it all the way to $5,000 and get a flush new cycle off the .786
we could always trigger upside here also here is the ALT count for that .
Overall this is pretty heavy Resistance at $5,900 as support so we need to see that broken above to confirm that the early bottom would be in.
but I think it makes more sense to have a clean test of the .786 on this wave
after we test support the future is bright :)
Stay profitable out there!
Looks like we triggered some downside to the .786 fib!
lets take it all the way to $5,000 and get a flush new cycle off the .786
we could always trigger upside here also here is the ALT count for that .
Overall this is pretty heavy Resistance at $5,900 as support so we need to see that broken above to confirm that the early bottom would be in.
but I think it makes more sense to have a clean test of the .786 on this wave
after we test support the future is bright :)
Stay profitable out there!
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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.