Quick post to observe behavior at what should be strong support. Methodical drop has been following the Blue Fib quite precisely. Last wave was stared by the Red Fib's Impulse, looks not done.
The confluence of fibs is where the strong zones are found. $ 6503/15 is on EVERYONE's radar, so lets see what it does. $ 6425/30 is LIKELY, to run strops below "obvious" support.
I am a long term bull, but I think $5882 will be tested at some point. The sooner we can shake all weak hands and consolidate, the better. Also, there are a record number of LONGS on BitFinex, like WTF?
Of course, I have had total FAILS on some ideas too, not going to pretend. But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets. Precision is the way of the Fib. Almost every turn happens at a Fib Line.
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Catatan
PING
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Catatan
ZOOM to 1min
Close look at that first support zone in bright green will probably break but good confirmation. So I look to the next support below,
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Catatan
Ping
not loud enough, will go lower :(
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Catatan
What a PING!
Well that last Ping turned out a lot "Louder" than I expected As in real live, sometimes the "aftershocks" can accelerate the wave. But lets see if the bulls can persist or will be wicked out again :(
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