BTCUSD Reversal in play!Last week I said that BITCOIN was going to fall and it did, based on the signals I was seeing with candle formations on the daily and 4hr charts. As I expected it broke the inner trend line, and I expect it to continue to fall until it hits around the 1355 mark, at which point it will hit a support level missed on the weekly chart, and then the next rally will begin to around the 3200 - 3900 mark. Refer to the link to related ideas below for more information on last weeks analysis.
As I expected BITCOIN fell to the 2100 mark to touch the next inner trend line and then proceeded to move back up to the 2600 mark which is the 0.786% of the sub-FIB level This point is the right tip of a crown formation, so I expect from sometime from now until the start of the London trading session it will begin to make the next fall to the -0.27 level on the FIB which is 1924. Breaking of this trend line to hit the 1924 will be confirmation that it will then move to the towards the outer trend line and then the 1355 area of support.
I expect to see a break of the next inner trend line which I think will be around Tuesday or Wednesday of this week.
As normal let me know what you think! :-)
