Technical Analysis update - BTCUSD @ $9100 - Feb 3rd 2018
An update to my previous post. It looks like the Fib 61.8% retracement line has provided resistance (see blue circle). Also something interesting, a typical doji reversal candle formed there as well. See the following 4hr chart.
I know the image is hard to see, but if you look closely we're almost crossing down on the kijun line (red line). Like I said before, that is a continuation signal for our trend downwards.
I'm looking for price action to hit either these next two areas, before I make a move. If price action breaks the 50% fib line upwards, I'm going to be looking for a dip to put some fiat in and follow a possible uptrend, given if we break the ichimoku cloud (i.e. price action occurring above the cloud).
Or...price action hits the 78.6% fib retracement level. We're talking $6700. Yea that's low, but a good point of entry!