Slapping Some Fibs on Bitcoin
![4DCE40DE-8358-4827-86D5-E9226316876B.jpeg](https://steemitimages.com/640x0/https://steemitimages.com/DQmb77z4xQPmaXSJSgHRD1v2qVqGaAnjQstn6tMv4YNUMxv/4DCE40DE-8358-4827-86D5-E9226316876B.jpeg)
Hey guys,
Hope you’re having a great weekend. I went out last night and I’m about to go and get waffles for breakfast. Yes, waffles! How good are waffles!! 😂
Anyway, this little spurt of bullish price action we’re seeing across the cryptosphere has to be keeping you at least a little optimistic, right?
But... We’ve discussed this at nauseum on the blog. The fact we’re in a higher time frame bearish trend and these initial bounces need to break resistance levels to mean anything.
Take a look at the Bitcoin daily chart:
BTC/USD Daily
First of all, just look at price and the way that we’re nowhere near a higher high. That is the first pattern we need to print if we’re to consider a possible change in higher time frame trend.
Secondly, I’ve just quickly slapped on some fibs and low and behold, price has stalled at the 50%. Take a look at this highlighted on the hourly chart:
BTC/USD Hourly
I’m still holding a long position from last week, but if price fails to do any significant technical damage, I’m not letting it come all the way back.
Peace ✌🏻.
@forexbrokr | Steemit Blog
Forex and Crypto Market Musings.
Twitter: @forexbrokr
Instagram: @forexbrokr
thks and more explain for next week a btc price please
I’ll do my best ;)
Posted using Partiko iOS
Hey @forexbrokr that is a bit cheerful ... By the way, have you heard of trade.io a trading platform? it is offering zero commision fees and withdraws and as a trader I think is really great news for you. Feel free to check their website https://trade.io/en
cheers,
Irene
Stop spamming me with this random shit.
Am sorry if my approach was wrong ... But I didn't mean to spam you :))