BTC Found strong support at 6048$ level. This is 0.618 point of FIB measure from 1800$ to 19882$.
To get a ticket to the moon BTC need to make 3 strikes: CSRs A, B, C.
Let's look at them a closely:
CSR A - main support line in Bearish Channel
CSR B - Support line of Uptrend that begin at 13.09.2017
CSR C - Resistance line of Uptrend that begin at 13.09.2017
BTC Got the strong bullish power from 6048$ point at now go to high.
CSR A,B are looking weak and price formed small falling wedge, so it's time to break out.
CSR B is also breakout line for bigger Falling Wedge that was formed in Bearish Channell
So the bull position looks good.
At other side, don't forget that bitcoin is bubble, not for 100% sure, but some hype part is present. Untill goverment will provide regulation rules and make this market 100% legal.
If you look at Bubble Chart Pattern, you will see a "bull trap" and "return to normal" phases.
Last point 6048$ look's like beginning of bull trap, this is 0.618 point, that in bullish market, lead higher to 1.618 FIB level. But next phase called "return to normal", exactly in gaps, because we are still in bearish market, so our resistance zone will be near 13200$
Base support has correlation with cost of electricity that you need spend for mining 1 BTC
Green Lines - support Lines
Red Lines - resistance lines
Blue arrows - less like way for BTC
Red Arrows - more like way for BTC
To get a ticket to the moon BTC need to make 3 strikes: CSRs A, B, C.
Let's look at them a closely:
CSR A - main support line in Bearish Channel
CSR B - Support line of Uptrend that begin at 13.09.2017
CSR C - Resistance line of Uptrend that begin at 13.09.2017
BTC Got the strong bullish power from 6048$ point at now go to high.
CSR A,B are looking weak and price formed small falling wedge, so it's time to break out.
CSR B is also breakout line for bigger Falling Wedge that was formed in Bearish Channell
So the bull position looks good.
At other side, don't forget that bitcoin is bubble, not for 100% sure, but some hype part is present. Untill goverment will provide regulation rules and make this market 100% legal.
If you look at Bubble Chart Pattern, you will see a "bull trap" and "return to normal" phases.
Last point 6048$ look's like beginning of bull trap, this is 0.618 point, that in bullish market, lead higher to 1.618 FIB level. But next phase called "return to normal", exactly in gaps, because we are still in bearish market, so our resistance zone will be near 13200$
Base support has correlation with cost of electricity that you need spend for mining 1 BTC
Green Lines - support Lines
Red Lines - resistance lines
Blue arrows - less like way for BTC
Red Arrows - more like way for BTC
Trade geschlossen: Ziel wurde erreicht:
BTC Touched the lower line of resistance zone And now it's 0.32 retracement level of last bullish movement.
Retracement level 0.32 was strong support level for each bullish movement during BTC Green Days. If according to Bubble Chart, we stay in "return to normal" phase, so 0.32-0.5 could be strong support zone. BTC still have target 13,500 - 14,200$, before BC leg of correction.
Retracement level 0.32 was strong support level for each bullish movement during BTC Green Days. If according to Bubble Chart, we stay in "return to normal" phase, so 0.32-0.5 could be strong support zone. BTC still have target 13,500 - 14,200$, before BC leg of correction.
Trade ist aktiv:
target 13,500 - 14,200$ is still valid
Trade ist aktiv:
Target is still valid. BTC Is moving to CSR C. That will be low line of Target zone.
Trade ist aktiv:
BTC in good position and moves in good channel, ready for 13,200 - 14,500$ as main target zone.
This will be a milestone point - Last Support (CSR C) will cross main resistance line.
This will be a milestone point - Last Support (CSR C) will cross main resistance line.
Trade ist aktiv:
Look's like "return to "normal"" phase is over. Now should be happen some falling down. The targets are 4304$ and 5130$.
In general, last biggest bullrun had continued for 225 days, so "cooldown" and bear market should continued for 1,618*Bullrun=364days.
Look's like "return to "normal"" phase is over. Now should be happen some falling down. The targets are 4304$ and 5130$.
In general, last biggest bullrun had continued for 225 days, so "cooldown" and bear market should continued for 1,618*Bullrun=364days.
