Subtratum (SUB) /BTC - New Target set Off Double Bottom
Updated
Entry - .00008800 (should of entered here) I think entries around .00009500 are still ok for longer term.
Target 1 - .00011200
Target 2 - .00011725
Target 1 is based off the double bottom reversal pattern I believe formed.
Target 2 is based on 618 fib extension
Current we have move playing out on the 4hr and target 1 will complete the double bottom reverse. I also had a falling wedge that provide confluence with the double bottom. On the road to target 1 I think we'll see potential two pull backs to either .0008257 (382 retrace - 4hr fib) or .00007438 (618 retrace - 4hr fib). I don't think we will get back to the 786 retrace at .00006856 but it's possible as know one has a crystal ball.
Target 1 - .00011200
Target 2 - .00011725
Target 1 is based off the double bottom reversal pattern I believe formed.
Target 2 is based on 618 fib extension
Current we have move playing out on the 4hr and target 1 will complete the double bottom reverse. I also had a falling wedge that provide confluence with the double bottom. On the road to target 1 I think we'll see potential two pull backs to either .0008257 (382 retrace - 4hr fib) or .00007438 (618 retrace - 4hr fib). I don't think we will get back to the 786 retrace at .00006856 but it's possible as know one has a crystal ball.
Note
Moving down on the hr to 382 retrace
Note
SUB is retracing to the 382 on the new structure high. Well be watching to see where it finds support.
Note
Day Chart added above
Weekly: Perfect retrace to the weekly 618 with spikes to test the slow moving average right at the daily 786 retrace.
Day Chart
Price dipped under the 36 day and is currently finding support on the Weekly 618 retracement at 7780 satoshi. We will need to wait on day closing to see were we go. Price is testing the 8215 as resistance and 36 day as resistance. If we get a close above and confirmation we will move to the Daily 618 retracement as the next resistance at 9234 satoshi. This will get price action above the 36 day
Wait on 4hr . 15 min charts and up looks like price is going down to 7784 again before up.
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