$BTC - Decline in progress
#BTC #UPDATE - Well the brief try to hold the black channel failed, 11k had a minor reaction but not much and we have dropped back into the lower range blue channel.
Interestingly stopped right now at my lowest arrow for missed retests. Right between the pattern targets with the main thing holding us here likely to be the 61.8% fib.
We are starting to make a reversal pattern now however it is still unconfirmed and weak.
Here is the close up. On the plus side, we seem to be respecting fibs, on the negative side, there is no real support level here except that missed retest. On short tf we need to break and retest 10650 to confirm the start of a corrective attempt or turnaround. We have left a few missed retest levels above this time but the slow move down allowed for lots of retests so many less than usual.
Interestingly stopped right now at my lowest arrow for missed retests. Right between the pattern targets with the main thing holding us here likely to be the 61.8% fib.
We are starting to make a reversal pattern now however it is still unconfirmed and weak.
Here is the close up. On the plus side, we seem to be respecting fibs, on the negative side, there is no real support level here except that missed retest. On short tf we need to break and retest 10650 to confirm the start of a corrective attempt or turnaround. We have left a few missed retest levels above this time but the slow move down allowed for lots of retests so many less than usual.
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