BTCUSD to test 5950? Another Tale of Two Fibs

8 באוג׳ 2018

There seems to have been two impulse waves down from the 8500 area.
Each impulse caused ripples that are well defined by the Fib Extension Ratios.
5,950 (about) is where important extensions of both fibs align.

Not calling that the bottom, but watching it for a good bounce.

8 באוג׳ 2018

הערה

Caught a bit of a bounce at the Red 4.236 extension.
Confirms validity of that Fib and its extensions going forward.

10 באוג׳ 2018

הערה

Both fibs clearly in effect still.

14 באוג׳ 2018

הערה

Here we are, will it hold?

14 באוג׳ 2018

הערה

Got a wee bit of a bounce at the fibs

Close up not an impressive bounce but an attempt anyway.

15 באוג׳ 2018

הערה

Trade closed (at least 75% of position anyway) holding 25% to see if it breaks the 6651 fib confluence (will be difficult)

16 באוג׳ 2018

הערה

Both Fibs still holding price captive. New fib in orange looks to be perfectly in sync.
Closeup of the new micro Fib (orange) and how the -.618 extension lines up perfectly with original fibs

17 באוג׳ 2018

הערה

Support/Resistance builds like tree rings.

22 באוג׳ 2018

הערה

Nice break out. The green fib new, added from bottom at 5950 I closed 80% of my position at the green 3.618 extension