Bitcoin. Consolidation Before a Push Higher?
So far Bitcoin has been respecting my trendlines and Fibs very well. See previous idea
It's a bit insane, but we may just essentially be consolidating here before pushing higher past the last Fib extension without any real longer retrace.
Nothing can be said until 2 days from now when this weekly candle closes.
- If we close within this area of the Fib and the trendline, it would be very bullish and I would expect price to push up next week.
- If we fall below the 3.618 Fib, I expect we move back down to the green trendline.
It's a bit insane, but we may just essentially be consolidating here before pushing higher past the last Fib extension without any real longer retrace.
Nothing can be said until 2 days from now when this weekly candle closes.
- If we close within this area of the Fib and the trendline, it would be very bullish and I would expect price to push up next week.
- If we fall below the 3.618 Fib, I expect we move back down to the green trendline.
Comment:
Idea invalidated due to closing below the Fib area.
