BitCoin nears Swing Zone 13 (April 12, 2018)
Updated
While BTC trading within a tight range 6600-7100 formed a narrow Bollinger Band (BB) and approaches the next Fibonacci Time Extension / Swing Zone 13, which is normally a major swing. Many people are expecting Apr-May to be a bull run. In general, the development of Lower Highs is interpreted as a bearish momentum or at least its continuation. Nevertheless, some of the daily TIs are either nearing the bullish zone or are oversold. I still hold a short from 7040 (TP=6525), which is appearing a difficult one. I am keeping it open with an anticipation that it will hit. Staying neutral with this tight range is better. You may use these BB along with BB% and BBW to open a position post breakout. The bands extremes can be used as a guide when the price hits either the top/bottom, you open a short/long position accordingly. Good luck!
Trade closed: target reached
Swing zone 13 prediction confirmed!
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