Consolidation in to a likely fail on a major support line...
While setting my low buy position using a Bollinger Band method inside of the current price channel, I tossed up a fib retracement as well as a cyclic cycle tool...
Given the accuracy of the fib test levels, and cycles matching up..
It looking like we are going to test the current fib and trend support and very early on in a negative cycle...
With a very weak (red) RSI....
I believe we are going to fail this major support, as well as the fib and trend support - before finding support on the next fib level.
Should go in to a free fall and bounce off of the $34,000ish Fibonacci Support.
Given the accuracy of the fib test levels, and cycles matching up..
It looking like we are going to test the current fib and trend support and very early on in a negative cycle...
With a very weak (red) RSI....
I believe we are going to fail this major support, as well as the fib and trend support - before finding support on the next fib level.
Should go in to a free fall and bounce off of the $34,000ish Fibonacci Support.
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