HiTech
Long

Bitcoin Could Have Reached The Bottom

COINBASE:BTCUSD   Bitcoin / Dollar
It seems that Bitcoin             has finally found the bottom after losing 62% from the all-time high. Fibonacci applied to the breakout of the ascending channel shows that price has reached the final downside target at 0% Fibs at $7555 and rejected it cleanly.

In addition, Fibonacci applied to the corrective wave up after breaking the uptrend trendline shows that the very same price level is at 561.8% retracement. Today Bitcoin             rejected the lower trendline of the descending channel , not to mention that on a Daily chart price is rejecting the 200 Moving Average.

And finally, price rejected the 2/1 Gann Fann trendline has acted as a support. Therefore, all the facts so far are in favor of the potential uptrend continuation and pointing out to the end of the correction. 
Kommentar: BTC at the gunn fan trendline, acting as support
Kommentar: If it breaks below the 5.9k this scenario could take place
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Hi, it is seen that in the last 4 hours green candles, the high and low levels are reached higher, a soft and slow ascending line that goes up to 7k. I understand that it is premature to define a trend that looks better now. I ask what indicator we could monitor to verify if the ascending route begins. Me, I'm out. Until I have confirmation, I do not enter. Passing 7.4k would be a good sign? It coincides with EMA 100 of 30 min and EMA 50 of 60 min. and from there towards 8k. tks
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dude, accept it, you and your analysis are far away from reality.. either you do your work bad the whole TA is a magician ball
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@uox, :) please if you want to accept it, then do, I don't need an advice, many thanks
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uox HiTech
@HiTech, it is kinda not an advise and for sure not for you but for those who in the very beginning of their path.. i'm sure you understand.
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@uox, of course, i appreciate your comments and feedback, people need to see the picture from all angles
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I think you are right! I will buy now at this 6800...
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HiTech PRO Alexander_Nikitin
@Alexander_Nikitin, I see little to no chance of this happening... but lets see
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@HiTech, classic chart patterns have higher probability to work than to fail...
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When will we know its not a dead bounce?
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