dRends35

BITCOIN - Death Cross + Fib Time

Short
dRends35 Updated   
BITSTAMP:BTCUSD   Bitcoin
BTC death-cross looks like it will happen somewhere between the two trend-based fib time projections. Trends do not magically implode at the sight of a death cross and often price is on a bounce as they do, but it is interesting that the DC is lining up with the time fibs. I am looking to fib time to provide a more accurate projection because they are a fractional extrapolation of stability found in phi / golden section and so more likely to find a continuation / reversal point. But it looks like DC will happen at the 1.618 fib of pivots 1,2,3 so I roughly guesstimate the wave 4 collapse will begin around 12th June.
Comment:
Interesting how the 50MA was support throughout the top until the initial collapse which began the downtrend. And then 200MA became resistance for this current flat pattern.


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