Andrew's Pitchfork
Next stop : 13,800$ before 2017-12-13 9PM (GMT+1)According to my previous analysis which revealed to be true, I can tell you with an 80% success rate that bitcoin will re-test 13,800$ level before 2017-12-13 (9 PM GMT+1).
The orange box is the zone where the price should retest back the red median line in the channel.
If the price doesn't hit back the median line after the orange box, we should consider that as a breakout and that the price will go higher or lower for sometime before coming back to the channel someday.
In the meanwhile, there are about 80% chances that the price will hit back the median line before the end of the orange box.
Tools used :
- Andrew's Fork
- Andrew's Fork Median Line
- Austin Box
Note: If the blue dotted line is broken, there is a very strong chance for the price to go really BEARISH.
These tools revealed themselves to be very accurate with about everything (currencies, commodities trading, gold trading...)
I strongly invite you to check it back on 2017-12-14 to see by yourself their strenght and effectiveness.
SandP 500 E-Mini Futures 240 CME Updated 11/16/2017 Price dropped down to below the blue median line as we had mentioned as a possibility. We are now near the 2577 area which could act as possible resistance to the upside. If we start to drop again we could see the blue median line as support or 2562 again.
SandP 500 E-Mini Futures 60 CME Updated 11/10/2017 Price has broken down and hit the median line, then rose up to resistance at 2585 which is also previous resistance, and came back down to hit support at 2571. Price is choppy now, and volatility is increasing to the downside. Price may come up a bit more before trying to make another move to the downside. Look to see what price does at 2580 and 2585 levels.
SandP 500 E-Mini Futures 240 CME Updated 11/9/2017 Price has dropped from the 2594 area as resistance and is testing now 2577. Look to see if price will break down here andretest 2577 as resistance to cantinue lower. If that happens we could see 2567 and 2543 eventually. Also look for the pink median line.
SandP 500 E-Mini Futures 60 CME Updated 11/8/2017 Price dropped lower and found support at the median line, bounced up, and is now at resistance near 2586. We must break above 2586 and test as support to continue the upward momentum. I have also drawn in the pink downward fork in case we hit resistance up here.