BitcoinUpdated BTCUSD extension
Broke through Parallel channel & Range low to extend lower into the bottom of our shorter term parallel.
Dip thus far has stopped at some good fib extension levels :
.764 off 6th -> 11th -> 13th december move
.618 off 17th(dec) -> 22nd(dec) -> 6th(jan)
Slightly below those areas is the .618 fib retracement off the 12th november - 17th december climb
RSI stopped at the 30 level as it did on previous moves lower
See if we break back into the range and above the .5 retrace or extend the losses further
Previous jan performances :
2015: -31.42%
2016: -14.81%
2017: Break even
2018: ? (so far -10%)
Dip thus far has stopped at some good fib extension levels :
.764 off 6th -> 11th -> 13th december move
.618 off 17th(dec) -> 22nd(dec) -> 6th(jan)
Slightly below those areas is the .618 fib retracement off the 12th november - 17th december climb
RSI stopped at the 30 level as it did on previous moves lower
See if we break back into the range and above the .5 retrace or extend the losses further
Previous jan performances :
2015: -31.42%
2016: -14.81%
2017: Break even
2018: ? (so far -10%)
Note
If we follow the bearish flag break correctlyNote
Pretty strong RSI divergence
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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.
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.