BTC/USD Bitcoin still having trouble breaking out of retracement
BTC approaches the 382 once again for only the potential 2nd time since hitting our current bottom following our All-Time-High level of 19,000 USD.
BTC has not produced a higher high in 10 days (February 20, 2018) and BTC is finally forming a short-term double top move where it found support above the .618 and looks to approach our previous target profit taking at the 1.272-1.414 Fib Extensions.
A move to the 1.618 of this retracement would break down-trend at the .382 ATH fib at 11,300 USD which would finish our Wave 12345 coming from 6,000 BTC/USD value.
I am expecting a retracement from our local high at this current move to fall below 9,300 USD which would show us once again, BTC is in a down-trend and having trouble closing daily candles above the ATH 382 at 11,300 USD.
The retracement move would give us a lower low from the Feb 20 move that breached the 382 down-trend.
BTC has not produced a higher high in 10 days (February 20, 2018) and BTC is finally forming a short-term double top move where it found support above the .618 and looks to approach our previous target profit taking at the 1.272-1.414 Fib Extensions.
A move to the 1.618 of this retracement would break down-trend at the .382 ATH fib at 11,300 USD which would finish our Wave 12345 coming from 6,000 BTC/USD value.
I am expecting a retracement from our local high at this current move to fall below 9,300 USD which would show us once again, BTC is in a down-trend and having trouble closing daily candles above the ATH 382 at 11,300 USD.
The retracement move would give us a lower low from the Feb 20 move that breached the 382 down-trend.