Looks like Neo failed to climb over the major fibo resistance and remains in the descending channel. I am expecting further downward pressure against Bitcoin at this time.
Key levels to watch to the upside:
- Sub-fibo ressitance at 0.00688
- Key fibo resistance at 0.00768
- A breach of the downtrend line to the upside
Key levels to watch to the downside:
- End of the long box at 0.00617
- Sub-key fibo support at 0.00568
- Major key fibo support at 0.00553
Key levels to watch to the upside:
- Sub-fibo ressitance at 0.00688
- Key fibo resistance at 0.00768
- A breach of the downtrend line to the upside
Key levels to watch to the downside:
- End of the long box at 0.00617
- Sub-key fibo support at 0.00568
- Major key fibo support at 0.00553
Catatan
Correction wave-D?Catatan
Wahooo! We breached the trendline and major key support line. Looking for signs of stability in the major long box.Catatan
There are two trading range supports in the long box (I don't have a chart atm). Odds are high there will be a reversal here at one of those, or at the edge of the box. We should then swing around back to the sub-fibo level (purple line where we have correction point D).Catatan
Trading below the major key fibo. This is a long box area where a reversal is likely, particularly at correction point E.Catatan
We are at point E! Watch the chart!
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