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BigChonis
22 jun 2019 23:57

Bitcoin Rejected at the "Golden Pocket Zone" 

Bitcoin / United States DollarCoinbase

Beskrivning

Has the final extension of the primary Wave 5 been rejected at the "Golden Pocket Zone" ? Touching between 61.8% and 65% FIB extension derived from Primary Wave 3 and currently holding resistance just over 11K... Since Wave 3 was so long then it can be assumed that Wave 5 would be truncated or under 1:1 ratio of Wave 3. There is also a count of 5 sub waves of the current 5th Wave extension. Confirmation of this rejection zone would be an eventual daily close below 9K area corresponding with the break of Primary Wave 3 Support which can take days,(maybe weeks) to confirm... Invalidation would be Bullishly closing above this zone again (11K+) putting in play a possible extension up to a 1:1 ratio of Wave 3, which can still bring Wave 5 as high as 13K area right at the 1:1 extension of Wave 3(with the 78.6 at just under 12K) ...but for now the Golden Zone holds resistance just over 11K,...Weekly closing candles will be more meaningful in determining the strongest resistance and support levels... Just a thought...Trade Safe...Chonis:)
Kommentarer
Jocoin
Wow almost 11200 again in few hrs as i said and nice jump
Cryptalion
We got similar vision!
Kavalier77
Nice observation Big C
Mer