1 HR BTC - ITS FIBONACCI TIME!
Hello All,
We are currently testing the 50% fib on the 1 HOUR chart and BTC is trying to press a bit higher and to plow through even more fibonacci roadblocks on its way higher. Personally, I dont think BTC will make it that far as volume has no impressed me thus far. Second of all like most of us we have seen this pattern play out over and over again and I'm getting a bit exhausted by it. Sitting here patiently waiting for something meaningful might take a while but like I mentioned in my previous post we are in a cautious situation that requires volume to help give us the answers we need. The news flow today was generally positive in the markets with Binance planning its global expansion and Ripple's new product going into the market, but overall we are still waiting for a spark plug to get us out of this bear trend. The trend is your friend people and we need to take emotion out of what we hope will happen. I mean we all want a healthier market structure but we just dont seem to have it / cant get it. So we must wait. But if we can break through some FIB levels maybe we can get some gas in the engine and take us away from the dark place we dont want to go SUB 6K.
After years of trading I'm finally going to be sharing my thoughts and analysis of the markets on a daily basis.
Please follow me and give me a like as I continue my adventures in the Crypto Markets.
Comments and Discussion are always welcome as the views of the many trump the opinions of the few.
This is my own personal analysis and I do not give financial advice.
We are currently testing the 50% fib on the 1 HOUR chart and BTC is trying to press a bit higher and to plow through even more fibonacci roadblocks on its way higher. Personally, I dont think BTC will make it that far as volume has no impressed me thus far. Second of all like most of us we have seen this pattern play out over and over again and I'm getting a bit exhausted by it. Sitting here patiently waiting for something meaningful might take a while but like I mentioned in my previous post we are in a cautious situation that requires volume to help give us the answers we need. The news flow today was generally positive in the markets with Binance planning its global expansion and Ripple's new product going into the market, but overall we are still waiting for a spark plug to get us out of this bear trend. The trend is your friend people and we need to take emotion out of what we hope will happen. I mean we all want a healthier market structure but we just dont seem to have it / cant get it. So we must wait. But if we can break through some FIB levels maybe we can get some gas in the engine and take us away from the dark place we dont want to go SUB 6K.
After years of trading I'm finally going to be sharing my thoughts and analysis of the markets on a daily basis.
Please follow me and give me a like as I continue my adventures in the Crypto Markets.
Comments and Discussion are always welcome as the views of the many trump the opinions of the few.
This is my own personal analysis and I do not give financial advice.
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