cdlsrm

cdlsrm

It looks like we are really struggling on the 0.38 fib levels, also I think we are just in a double zig-zag correction and a completion of corrective wave 2. Of course I still see the possibility to reach 0.5 retracement at 260$ but it won't change the outcome. If my theories are correct we may go to 130$ in the next 1,5 month.

cdlsrm

And than we shall see if this is just a bulltrap or we can go higher. If we break 260$ and defend it, this may be really bullish.

cdlsrm

Looks like one minor cycle has ended, we may now create w,x,y to range between 240$ and 220$. Or just drop from this levels. But if I had to bet, I would bet on chop.

cdlsrm

Bitcoin key support and resistance levels. Bitstamp

cdlsrm

Its not the end

cdlsrm

This is what I think about future, past and present we are currently facing.

cdlsrm

Wave iii has extended yet again, now it has full sub cycle inside it. Expect of wave v soonish.

cdlsrm

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cdlsrm

Fibo 100%, strong historical resistance, we have to bump some now. Maybe even level 240$ to 260$ is possible. And maybe that bull whale that is working on sub 240$ levels will show his presence.

cdlsrm

Yesterday it looked like cycle completion but wave III has extended. So there soon should be wave V.

cdlsrm

This looks like we have finished this minor eliott wave cycle. The question is, whats next? We might just have finished correction of wave I, and we are heading slowly towards 400$. Or as I anticipate, this correction was wave I of the new down cycle and there are 2 more to come.

cdlsrm

Like always RSI shows more weakness to come

cdlsrm

Like always there might be a small bump to next resistance level.

cdlsrm

Looks like we had double bottom on support level, and that support holds for now. Also we are oversold on 4h RSI. I'm suspecting bump to my EMA's which overlap with resistance level. It's probably going to be choppy before next drop.

cdlsrm

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cdlsrm

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cdlsrm

If you are looking for fractals, here is one.

cdlsrm

If we want to keep that bullish trend going, we need to break 300$ lvl ASAP and hold it. Bearish scenario is more probable for me, we should retrace that rise and than range for a bit, before major drop.