BTCUSD RED ALERT ABORT ABORT ABORT

7 Şub 2018

What you see here is a completed 70.5% retracement from the start of our last dip ($9000) to our bottom ($6000). They are important signals for reversal/continuation and are Optimal Trade Entries (OTE).

There's also a TD9 on the 4 hour chart, which has absolutely rekt us every single time in this dip.

70.5% retracements have 2 major targets - one at the 100% fib ($6000) and one at the 1.618 fib (4000-4500$ depending on the exchange.

Now it's not a certainty that this will happen, but I can at least point you to one 70.5% retracement we all remember:

7 Şub 2018

Not

Here's another backtest with another perfect 70.5% retrace and a perfect 1.618fib target (our current bottom!):

11 Şub 2018

Not

Small update!

The past week has been very solid for me - I 3x'ed my bitmex acco96unt by swingtrading. I recognized the top around 9100 and sold everything to fiat + opened shorts around 8800. The possibility that we go down below 6K is there and very realistic. But in case we do go manage to bounce between 7200-7600 and then close a daily candle above 9200-9500, we have to account for the possibility that we will make a new high around 12k.

I did find an interesting fractal just now that I wanted to share:

11 Şub 2018

Not

I found a possible bullish case on bitcoin, called a descending scallop. entry would be at 50% retrace (7500) with a target at 1.618fib (11k).

Please watch for a hard bounce off 7500.

11 Şub 2018

Not

tradingview.com/chart/RbnU6v5B/