- The current market movement is expected to continue until it hits the bottom of the channel at $400, forming the B to C segment.
- Bouncing off this point, it will hit resistance at $570 (point D). This line is projected from the that occurred between December 21 and 24.
- Finally, it will settle at $300 (point E), which was the long term stable price before November 2017.
After this completes, I would expect the price to stay neutral or slightly for a while before the market starts to kick in again.
This is my first attempt. If you have any ideas on how I can improve this, please give your feedback. Additionally, any tips on how to apply Fibonacci Retracements or technical indicators related to timing the market would be greatly appreciated. Happy trading :)