Beschreibung
⋅ using the fisher transform as an oscillator.
This will be something to learn to look out for from now on, since we are about to make our next leg lower.
Bitcoin local bottom 7100-7700 before we bounce back to.. either 8.1k or 8.3k and fail to make a new high.
Wake me up at 6k.
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⋅ local bottom called to the T, but we bounced a bit harder than that. Just a bit tho.
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⋅ did not expect to get above 15 minute 50 but there you have it, this did happen.
Getting above 8118 with that level being such a supporty area means we might hold above 8100 for a bit.
Not for very long.
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⋅ Turned by the 0.236, we did not manage to make a new high. What did we make?
A useful high to put new fib extensions up with. Here, in orange;
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⋅ the top red line is from the two earlier bulltrap/bounces, the next one is the bottom of the previous bearish channel.
New fibs suggest we might retest 7950 tonight. If it holds, that might be all she wrote in terms of correction. If not, next stop is 7300.
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⋅ Update: Hourly tweezer top at 9200. Retest commencing.