Bitcoin History

On 11.02.2017 Bitcoin began day 1 of seven of reaching out, attempting to break upwards through the 0.618 Fibonacci line. From there it would make a seven day attempt to break through and try to continue upwards. On day 8 the daily candle closed red and a retrace to a 5400.00 wick occurred. From there the bulls took over again pushing it up and bringing support at 5800.00. 7 days later it had shot back up and easily cleared the 0.618 as it regained its upward trajectory. It is indeed worth noting that the daily Relative Strength Index was at 91 also, before the bulls gave up and it fell from the 1st breakout attempt.

Did Last Tuesday Start The Repeat?

Well here we are back again.. On 07.18.2018 Bitcoin looked to be repeating that same occurrence. We find ourselves in a scenario where bitcoin chose a Tuesday to make its first push to break through the 0.618. The bears yet again have resumed rejecting those bids and we are now just 2 more days away failing 2 more times to break through. Will that continue to happen and we get a move down towards another potential 5800? I still believe at least 6800.00 is where a retrace will occur. Currently the RSI is at 73. Can it be near 93 yet again before we see that bearish candle form. Yes we can.

The Stars May Align

We all know where bitcoin is ultimately headed. North of everything else. We are calm and cool. We have seen this rodeo before. We only kick ass and chew bubble gum, and we are all out of bubble gum! In all seriousness, for what it is worth, I believe numbers always tell the story in one way or another. Here is some candy for you..from when Bitcoin fell in last November to the day it may fall again, just a few more days later...is 267 days 6+2= 8 , the number of candles that were rejected before the price fell and the 7 represents the number of days it took for the price to stop falling, gain support and blow through the 0.618. ~Yes it was 7 days.~ Go look. Is this just silly coincidence? Maybe.. Numbers do not lie, but the question should really be...Are the charts telling us the truth? We shall see :)

These are my feelings and own opinions. I win and lose trades, just like you. Please be careful in the markets and as always... Do your own research and invest wisely!!