BTCUSD Resistance Level - Fib Confluence

19. Feb. 2018

BTCUSD

The precision of the confluence between the two fib retracement levels struck me when I was plotting out resistance levels. On that basis I suggest keeping a close eye when price reaches 12,961. A break above would be very bullish but I think it is likely there will be some retracement from near the 12,961 level before the next wave up.

19. Feb. 2018

Anmerkung

Also, price is currently coming up against the 38.2% retracement level of the entire move down from the ATH

19. Feb. 2018

Anmerkung

*61.8%

19. Feb. 2018

Anmerkung

And hey! Here's another fib confluence!

2. März 2018

Anmerkung

Broke above the descending trend line (so long as you are not using a log scale), which I see as major progress. The trend line then provided support and price now has some fib confluence to test at ~11,315. Above that and I think we can say we are confidently in wave 3 of the larger impulse, in which case, we might even retest the ATH in the next few months.