BITFINEX:BTCUSD 10k Psychological Buy Price creates fake reversal pump. Price goes sideways during Korea hours before London Open pushes price back to 9222sats. Re-testing as support gives double bottom and a Bull Run to 13.4k and beyond. Or London Open puts correction back on track to 0.618 fib (7513-8400 with many buyers waiting to form new bottom)
Great analysis, but doesn't look like this sideways is happening. On the up.
CHVRCHES_CHICKEN
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@ryanmack, May now be showing up right on schedule. Bounced exactly off the 0.5 resistance ($11812). Let's see if it goes sideways until London Opens and possibly dumps Wave 5 down to the lows.
Chriistian
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@CHVRCHES_CHICKEN, We went sideways; but we didn't fall down, even with London's opening. Lets see what happens, but I think that we've reversed the trend already.
darkandblue
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@Chriistian, on the 4h chart the fib 0.5 still hold strong with close to overbought RSI. another low is still in the game and likely. frankly, i prefer to see that happen and be done with it already.
grass3
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@retiringsoon1, Really still think there's another low coming? Looks to me we're reversed and on the up and up
darkandblue
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@ryanmack, both are probable and next 4 to 8 hours will confirm. As said 4h fib is still at 0.5 retracement,we havent crossed that yet.RSI is still up. Lastly,on 1hr chart MaCD is about to cross to negative trend. If we go below 11.2k then the shoulder would be broken too..all these show a lower low. At least it is not a clear cut up trend
grass3
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@retiringsoon1, Thanks for the elaboration. Edge of seat stuff here!
darkandblue
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@ryanmack, tell me about it...it is so damn hard to wait..patience is key..think of it like this,either buy at 12.7 or 8.2..or you can buy now and be done with it :)