#BTC - Fibonacci Levels - Support and Resistance
#bitcoin still continues sideways with more downward trending and still shows no signs of breakout to upside. - Volatility of falling down (red candle) is stronger and faster than upward (green candle), bearish, as buyers aren't enough to pull it up strongly. - From the chart, such pattern suggests downward probability > upward probability. There's more uncertainty over China miners who're dumping their machines and bitcoins, could continue to sell their bitcoins. PS: Correction is tricky, nothing suggests upside bull pattern yet. I'm long #BTC but will not add unless the correction is over. ~Happy Trading.
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#BTC - Fibonacci Levels - Support and Resistance
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
#bitcoin still continues sideways with more downward trending and still shows no signs of breakout to upside.
- Volatility of falling down (red candle) is stronger and faster than upward (green candle), bearish , as buyers aren't enough to pull it up strongly.
- From the chart, such pattern suggests downward probability > upward probability. There's more uncertainty over China miners who're dumping their machines and bitcoins , could continue to sell their bitcoins .
PS: Correction is tricky, nothing suggests upside bull pattern yet. I'm long #BTC but will not add unless the correction is over.
~Happy Trading.
