Gann Fans Support and Resistance Tracking

20 Nis 2018

BTC just broke out of the bearish consolidation we've been in since December with a bounce off the long-term support that we deviated from when the pump started in October 2017. We've been riding the bullish 2/1 Gann line, and just broke out of the bearish Gann fan drawn from the peak of this move. Expecting to test support on the outside edge of this fan in to the 1/1 range in the uptrend until reaching support and accelerating up. If we don't breakout, expect to test the long-term support drawn at the bottom. This bottom support rises 14/day.

21 Nis 2018

Not

So it turned out that since we had already exited the downward Gann fan, and to stay inside the bowl pattern we are on the way up in, the trend took us up another leg or two before consolidating. There are more shapes to forecast this market.