Updated

Bitcoin outlook

Current bitcoin advance is being capped by a confluence of fib levels, top end of triangle and the mid modified-pitchfork line drawn off 17/12 high ->22/12 lows -> 7/1 high. ATR coming to a very low level and range in RSI triangle narrowing heavily. A pull back to trend line made off 17th january lows? Or a break through current resistance into a retest of our other key resistance zone tested on the 20th.

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Topped at confluence of pitchfork mid point & .5 fib channel

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Breaking thru that RSI trend line, currently testing s2. Next leg lower targets .618 retrace/prev support area 26/27th

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S2 & .5 fib retrace acted as nice support. Now back to mid pitchfork level, 50 RSI

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Caught under the long term mid pitchfork line (dark blue) and supported by what was s2 and the .618 on the short term pitchfork. A look at the new pivot points :

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Down to trend line & S1

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30 min RSI still ranging between 30-50

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Slid through it and now at s2 & lower pitchfork level

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Think it's good to keep an eye across the board. Lots of other "major" cryptos at support levels.

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CRYPTO EXCHANGE BITFINEX, TETHER SAID TO GET SUBPOENAED BY CFTC.
Thats gonna push us lower

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at the whole range .5 fib retrace (key level)

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Will we finally test this trend line?

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A look at new pivots

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Key support area holding so far

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At the pivot

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Short term

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Caught between these 2 pitchfork levels, hovering on key support.

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Shorter term pitchfork

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We're at the trend line finally, and the .618 retrace off 15th september -> 17th december. (start of elliott waves)

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Combining exchanges to get a broader look at price (coinbase, bitfinex, bitstamp)

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the .5 level of the pitch fork worked nicely previously, lets see if it gives support in current sell off

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At s3 and the bottom of the shorter term pitchfork

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200 dma @$7805

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.618 of entire market range coming close

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FibnFork

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BTCUSD levels

by FibnFork

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