NeoButane
Short

BTCUSD - Short term bearsh again, long term bullish

BITFINEX:BTCUSD   Bitcoin / Dollar
Parameters:
Blue diagonal lines - Fib speed fan from ATH             to trough
White dotted lines - Fib retracement lines
Green hlines: support lines found by reading the candles and watching price action
Red hlines: resistance lines found by the same way, and in addition by looking at previous supports or resistances.


At the moment, we're climbing up high and fast. It looks great! But I do believe we're do for a correction within the ranges of a few hundred dollars. MACD is about to cross under and RSI is getting higher. $BTC has only been able to make a wick above the $8482~ resistance line, which is an important resistance to break to show that we're on the way to a reversal. Failure to breakout would likely mean a drop back to resistance, continuing consolidation.

If we are able to push through, there is heavy resistance at the highlighted red eclipse. That is the speed fan 0.75 ratio line, retracement line, and a resistance line. I 100% believe if we are able to breakout from there, $BTC will resume an uptrend.
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