BTC fractal May-June 2018 and the situation is now. In favor of the fall: 1) The growth of the market without corrections is observed since February. 2) 4 green candles in a row on the monthly chart. 3) Two unclosed gaps on SME 4) Futures expiration on May 31st. 5) RSI shows a bearish divergence.
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Everything goes according to plan. Touched the upper border of the channel with a shadow (white line) and a downward movement begins. Released on the move a large amount of Bitcoin.
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prntscr.com/nxlo3k So far everything is moving along the fractal unfortunately .... We have come close to the important zone - the lower part of the potential "channel" if we break through the next stop in the area of $ 6800. If we hold this zone, then a potential rebound in the price range indicated on the chart
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prntscr.com/o2d045 bounced off the indicated lower boundary of the channel after the flat along its length during the week. Work in the channel.
@MichielVan Kets, Yeah going well so far. Lets see if further down is comming I would say YES
SpartaBTC
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@anosinvest, Yes, I think so
MichielVan_Kets
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@anosinvest, well, the fomo bulls might give it 1 last try to hit the 9k, but there are so many people now getting worried, especially those that bought at 6k before it dropped; they had a few really bad months, they're not going to wait for it to drop again, they're selling ... just a little bit, for risk management, you know ... take a bit of profit ... that's why I seriously doubt it will go above 8k again, as each time it gets close to that; people are selling ... last week they were sure they would get 9k, while now they're hoping it will touch 8k again so then quickly sell some more ...
I do think 3.2k was the bottom, that's not the problem, but what happened after that ... I call it an utter embarrassment for the bitcoin community
WhiteBassFisher
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I'm holding exactly the same opinion. Let's see how it plays out.
UnknownUnicorn2886275
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This analysis using square of nine
if we break 6183 with 1 candle day
I will place a LONG order @5531
Anoinvest
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Interesting fractal. Would love to revisit it the future but currently agree with your reversal
MichielVan_Kets
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yeah, the longer it goes sideways, the more it looks like a fake out, not a break out ...
SpartaBTC
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@MichielVan Kets, Yes, go btc at the moment in the side in the channel. But the zone of price rebound from the specified zone in the trading idea worked exactly.
MichielVan_Kets
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@SpartaBTC, you responded to an older comment of me from last week, look for my new comment