BitcoinLong
$BTCUSD Healthy correction $6600 4th wave bottom
OMG that was a frantic week. Despite all the hysteria and FOMO setting in on Thursday we have completed our 3rd wave and now expect the 4th wave to take possibly 7-10 days to play out. As another weekly close approaches tomorrow it would be expected that another attempt will be made by the BEARS to force down the price.
From a technical perspective our RSI is holding channel support and setting up a possible inverse H&S pattern.
OBV has hit resistance from FEB 2018 and is now back testing support, so healthy.
Our cluster of resistance in the $6400-$6600 region has acted as support. Healthy
The .236 Fib has held as support. Healthy
We remain very bullish and excited by the week ahead and what we believe will be a decisive monthly close to come.
From a technical perspective our RSI is holding channel support and setting up a possible inverse H&S pattern.
OBV has hit resistance from FEB 2018 and is now back testing support, so healthy.
Our cluster of resistance in the $6400-$6600 region has acted as support. Healthy
The .236 Fib has held as support. Healthy
We remain very bullish and excited by the week ahead and what we believe will be a decisive monthly close to come.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.