BTC Q1 2018

Updated

PF HAS BEEN RESPECTED, SUPPORT @ 13K HAS BEEN TESTED MANY TIMES, PRICE IS ABOVE ICHI CLOUD AND KIJUN; MAKING HIGHER LOWS SINCE THE DAILY FRACTAL WAS HIT 3 WEEKS AGO. IF/WHEN THE CORRECTION IS OVER, TARGETS FOR THE NEXT RUN ARE THE FIB LEVELS ON THE CHART.

IF THE CORRECTION CONTINUES, PRICE MIGHT RETRACE TO THE BOTTOM OF THE CLOUD, IT COULD GO EVEN LOWER TO THE 200 PERIOD EMA. ALARMS SET @ 12.7 K

TRIANGLE BREAKOUT WILL BE THE CONFIRMATION.

RESISTANCE LEVELS: 14500 - 15750 - 17250 - 19666

SUPPORT LEVELS: 11160 - 8500

TRADE CAREFULLY.
WILL BE UPDATING THE CHART WHEN NECESSARY.

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4HR 50/200 BEARISH EMA CROSS

BIDS SET AT RECTANGLES

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FIRST TARGET HIT, LET'S WAIT AND SEE IF WE GO LOWER.

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FIRST TARGET WAS ALSO THE BOTTOM OF THE DAILY CLOUD. SEE CHART BELOW.

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BROKE DOWN FROM DEC 22ND SUPPORT (11160)
DAILY IS BELOW THE CLOUD, LET'S SEE THE CLOSE IN A FEW HOURS.

WE MIGHT GO LOWER.

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SECOND RECTANNGLE GOT HIT AND QUICKLY RETRACED TO PREVIOUS BOX, LEAVING A BIG WICK ON THE 4HR CANDLE, ALSO, THE DAILY CLOSED ABOVE CLOUD.

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LOWER BOX GOT HIT THROUGHOUT THE DAY AND WICKED BACK UP TO PRINT A DOJI ON MOST EXCHANGES, SIGNALING THE SELLOFF MIGHT BE OVER; STOCH RSI PRETTY CLOSE TO 0, PITCHFORK STILL BEING RESPECTED AND PRICE IS AT THE BOTTOM OF THE DAILY CLOUD.

IF A BUY SETUP IS ACTUALLY DEVELOPING, THE TRIANGLE AND THE TOP OF THE CLOUD SHOULD ACT AS RESISTANCE AND FROM THEN WE'LL SEE WHAT HAPPENS.

IF THE SELLOFF CONTINUES, 7.5K TO 8.5K RANGE IS STILL IN PLAY.

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Another dojo on the daily close, let's wait for today's close, which at the moment, is also a doji.

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PRICE PULLED BACK TO EXPECTED RESISTANCE (TOP OF CLOUD - TENKAN - 50 EMA - PREVIOUS TRIANGLE) AND IT'S NOW RETRACING, CURRENTLY PRINTING A BEARISH ENGULFING ON THE DAILY CANDLE. PAY ATTENTION TO THE SUPPORT AT 11K, WHICH WILL DETERMINE IF WE GO LOWER.

ON THE 4HR CHART YOU CAN SEE THE PERFECT PULLBACK TO THE DOWNTREND LINE WHERE ALSO PRICE FOUND RESISTANCE BASED ON THE PREVIOUS SUPPORTS. TEXTBOOT PLAY...

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WEEKLY CANDLE LOOKING BULLISH, CLOSES TODAY.
PRICE HELD ABOVE 25 EMA
2 CONSECUTIVE CLOSES ABOVE TENKAN DESPITE THE SELLOFF WE HAD THESE WEEKS.

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BROKE RESISTANCE, FINDING SUPPORT.

LOOKS GOOD.

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IT WAS A BULL TRAP, AS I SAID 2 WEEKS AGO THE 7.5-8.5K RANGE WAS STILL IN PLAY. FINALLY 8.5K TARGET HIT, ALSO 200EMA.

LET'S SEE IF THIS HOLD

gusi

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