I am just a chart hack so take what you will from this.. :). Just by looking at this chart with some fib circles..we can see there will be some reactive areas ahead. I would assume we will most likely get pushed down to test the box. Depending on what happen there..we will either begin our journey upwards or continue down to test lower lows.. 4hr cci is still...
This dump dropped us right on the lower support from the larger downward trend we were following a while ago.. Looks like a good place to call close bottom.
March 30th 2019..We were about to depart the lengthy doldrums of 3-4k. What does this year hold ahead for us??
Here is a closer view of the upcoming weather for today so we can track the movements on the fib and trend lines..Please look at the linked chart which shows the 1 hr time frame to this movement. The fib arc and rising fib line should draw us against the purple resistance and cause us to deflate down to the box area unless the bulls put together another pump and...
Yes..it might seem a bit colorful and chaotic. In a nut shell..those two Purple lines are a very strong downtrend and a fib resistance line from way back and they have been doing a good job at keeping bitcoin at bay. We shall see if it can rise up but not likely..as we go down.. If we break below the bottom of the blue box then we set a lower low on the longer...