In my previous chart, I indicated two targets for the bear scenario on BTC both where reached almost exactly for reference (
). Which can indicate that the point used for analyzing the market was decent enough for future reference? Since then we had some textbook scenarios. Most where FIB extension levels that were reached and caused minor reversals down. In the larger perspective, the market to me is still a little indecisive... with a small lean to the upside. We seem to be close to finding a decent bottom point. Less volatility involved is a sign to me. On the bearish side, a double bottom would not be a bad thing. Now we are in a small falling wedge close to the bottom of the channel- which is trying to break as I am writing this. These to me is a reversal zone. A final touch around $7500 would be a good bottom touch and decent scenario. Overall as long as we stay in the channel nothing to big to be worried about. A break of the channel will give the bears full control. Goodluck.
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Another old chart that I just revisited form 10 FEB. It seems to love the levels
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RETEST OF WEDGE AKA BOUNCE LETS SEE IF WE HOLD
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Touch Both channels and Resistance...., seems like a short squeeze for now. The 38.2 resistance would form a nice support level to hold. And see if there is some thru power to this move
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just for info, but not looking to bad atm.
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as said yesterday, it wasn't looking bad. Bulls are pushing like mad. Be alert in these levels.
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hence be alert
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what I made last night before I went to bed. We just missed some targets. But targets are more area to me. It remains to be seen if this is whats going to happen