A while ago I mentioned that we may have a wave 1 that could break out of the long term (log) downtrend line and then re-test it as support. Could it still be playing out? The line is now roughly coinciding with major Fibonacci support.
Look at that bullish spinning top on the daily chart is that correct and cheers for the TA
thekevin
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@chase4fun2018, It does look like it! Hopefully we start moving up now although an actual touch to the .786 wouldn't surprise me.
chase4fun2018
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@thekevin, We might get one more lower low before it bounces depends what the candle
is for today i believe sellers are waiting to try and get in for $7200 i could be wrong but
that was my most bearish price..We could bounce from here time will tell.There is a lot
of sideways movement i think tonight we will know..
To me this candle the bullish spinning top candlestick yesterday and today there is a bearish
candle that is trying to form into a bearish spinning top normaly signals sell off to buy back in
at a lower price we just have to wait for more data.
thekevin
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@chase4fun2018, Absolutely agree! I am remaining bullish unless we fall under 6800 (.883 retrace). Although BTC seldom falls as low as .883 retracements, I do see it on alts a lot.
glynabt
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U TA guys are so funny. You're right 1 in 10 times I guess... so maybe
AlphaWolf-Prime
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@glynabt,
10% success is still much better than blindly buying and hoping.