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Icantbelieveitsnotbutter

BTCUSD Potential FractalPotential fractal playing out on BTCUSD. This aligns with my personal assessment of the approach to the A&E neckline on the 4 hour chart, as shown below: Given the long fib over-extension to 3.618, I believe we are due for a correction, but it will be choppy and slowly drawn out. I also believe that this will grant us a chance to revisit the .618 ($3,660) of the range that we have been within since December 17th. As always, exercise proper risk management and adjust to the situation as it develops. There are many critical points around the current range that may greatly impact projections for the coming periods.
BITFINEX:BTCUSD
by checkm8
BTCUSD Bear Flag in Ascending Broadening WedgeBTCUSD appears to be forming a bear flag within an ascending broadening wedge. Based on this assumption, I am expecting an inflection around 8,400-8,600, which would be at the 38.2% fib level, running from the local bottom of 6,400 to the local high at 9,750. In alignment with the ascending broadening wedge, this would be the second touch of the bottom trend line (there are typically three touches of the top and bottom trend lines before an upwards breakout). Please note that the bear flag pattern may extend further before breaking down, thus I am moreso observing the pattern as it develops rather than trying to call the tops. Follow at your own risk, as there are often bear and bull traps along the way, and as always - BUY THE FKING DIP.
BITFINEX:BTCUSD
by checkm8
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