BitcoinLong
BTC 1 hour - Building for the Bull Run with important Fib points
Major Fib's - Pink and Gold
Working Fib - Green
Minor Fib - Blue
First the Bad News......
Downtrend probably continues when price breaks down past Working "Green Fib line 0.5" and Major "Pinks' Fib lines 0.382 & 0.236".
Now for the Great Bull News....
Price's recent 7.47 % move placed us in a defined Neutral Trading Zone of a giant: -- 17.18 % Trading Range.
Define Neutral Zone: 17.18 % --- Visually between the Major "Pink Fib" lines 0.382 - 0.5
In order to even think we are "heading out" of a bear trend we must exit this neutral zone upwards, and some major goals listed below need to take place.
Bullish near term goals are:
Price action is fluctuating above Working "Green" 1.000 Fib line, and/or above the "diagonal pink inserted line"
A bullish help is to have price stay above the Major "Gold" 0.382 Fib line, which price is currently testing.
A bullish help is to have price stay above the Working "Green" 0.786 Fib line.
The Best Case bullish goals are:
A bullish goal is to have price reach 17.70 % to the Working "Green" 1.618 Fib line.
A bullish goal is to have price sustain a new support at the Major "Pink" 0.5 Fib line
Disclaimer: I currently hold Long positions on margin. I trade both Bear and Bull trends
Working Fib - Green
Minor Fib - Blue
First the Bad News......
Downtrend probably continues when price breaks down past Working "Green Fib line 0.5" and Major "Pinks' Fib lines 0.382 & 0.236".
Now for the Great Bull News....
Price's recent 7.47 % move placed us in a defined Neutral Trading Zone of a giant: -- 17.18 % Trading Range.
Define Neutral Zone: 17.18 % --- Visually between the Major "Pink Fib" lines 0.382 - 0.5
In order to even think we are "heading out" of a bear trend we must exit this neutral zone upwards, and some major goals listed below need to take place.
Bullish near term goals are:
Price action is fluctuating above Working "Green" 1.000 Fib line, and/or above the "diagonal pink inserted line"
A bullish help is to have price stay above the Major "Gold" 0.382 Fib line, which price is currently testing.
A bullish help is to have price stay above the Working "Green" 0.786 Fib line.
The Best Case bullish goals are:
A bullish goal is to have price reach 17.70 % to the Working "Green" 1.618 Fib line.
A bullish goal is to have price sustain a new support at the Major "Pink" 0.5 Fib line
Disclaimer: I currently hold Long positions on margin. I trade both Bear and Bull trends
Disclaimer
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