Im so happy to find the 2019 of this post! I become interested in TA thanks to the original 2018 post, and been reading (those books you recommend me back then) and learning on the subject since then.
THANKS 123 for getting in this again, and for sharing your knowledge.
Now speaking on the subject, yesterday I was thinking in a 8100 support, but today we broke the 8000 barrier (looking at the 3 hours candle at bitfinex)
If I see the week candles, there are 4 touches at the support 7600 zone (correct me If I am wrong) 2 in June and 2 in september, which indicates a weak support resistance, which matches on the bear market and new lows (according to your projections down to 5400)
¿Is my analysis on track?
Happy to read your opinion.
Regards
THANKS 123 for getting in this again, and for sharing your knowledge.
Now speaking on the subject, yesterday I was thinking in a 8100 support, but today we broke the 8000 barrier (looking at the 3 hours candle at bitfinex)
If I see the week candles, there are 4 touches at the support 7600 zone (correct me If I am wrong) 2 in June and 2 in september, which indicates a weak support resistance, which matches on the bear market and new lows (according to your projections down to 5400)
¿Is my analysis on track?
Happy to read your opinion.
Regards
Thank you for sharing your analysis.
The average of the lows from JUN-2019 and SEP-2019 is around 7600, as you've correctly suggested.
GBTC has already broken the equivalent 7600 zone; and hence, BTC is on track to decline further.
Upcoming BITSTAMP support zones...
Code:
@7230: 61.8% Fibonacci retracement from 15-DEC-2018 to 26-JUN-2019 (avg expected zone)
@5425: 78.6% Fibonacci retracement from 15-DEC-2018 to 26-JUN-2019 (max expected zone)
@4350: 88.6% Fibonacci retracement from 15-DEC-2018 to 26-JUN-2019 (WARNING: Bull Market Terminated?)
@5425: 78.6% Fibonacci retracement from 15-DEC-2018 to 26-JUN-2019 (max expected zone)
@4350: 88.6% Fibonacci retracement from 15-DEC-2018 to 26-JUN-2019 (WARNING: Bull Market Terminated?)