Update: 50% Retracement Potential | $BTC $USD #Bitcoin #Litecoin
Traders,
A quick Tech-Note here on the BTCUSD (Bitstamp) to suggest a potential 50% retracement as the crypto continues to build its strength back up. A rough estimation here sees a 50% retracement potential based on a 5-0 pattern completion, thus projecting a support near 554.65.
While an early market reversal signal did occur, we are still in wait of a bullish market reversal confirmation. A solid numerical base has yet to be defined before we are able to generate our geometric/mathematic-based analysis and forecasting.
Cheers,
David Alcindor
TradingView.com Moderator, Alias: 4xForecaster
Predictive Analysis & Market Forecasting
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Get signals, analyses and forecasts on Twitter
Alias: @4xForecaster
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Disclaimer: Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
A quick Tech-Note here on the BTCUSD (Bitstamp) to suggest a potential 50% retracement as the crypto continues to build its strength back up. A rough estimation here sees a 50% retracement potential based on a 5-0 pattern completion, thus projecting a support near 554.65.
While an early market reversal signal did occur, we are still in wait of a bullish market reversal confirmation. A solid numerical base has yet to be defined before we are able to generate our geometric/mathematic-based analysis and forecasting.
Cheers,
David Alcindor
TradingView.com Moderator, Alias: 4xForecaster
Predictive Analysis & Market Forecasting
-----------------------------------------------------
Get signals, analyses and forecasts on Twitter
Alias: @4xForecaster
-----------------------------------------------------
Disclaimer: Forecasts, analyses and directional opinions generated herein are for educational purposes only and are not trading recommendations. We trust that you will do your own due diligence first, then seek professional advice from a licensed professional, then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster