Testing my experience with the use of Traders Dynamic Index with at least 2 time frames I suggest Bitcoin price will drop to at least Fibonacci extension levels of 118% and 127%. Around $5,100
Dashed gray line is suspected of being next retracement zone. Seems as a simple pattern.
38.2%, 50%, 61.8% retracement level to: Extension level of 161.8%
Fibonacci retracement at 78.6% tends to reach 145% extension. At lower time frame, latest retracement hit 14.5% retracement which by retracement price move is less than 5% makes statement more accurate to reach its 261.8% extension. I was not up early so, I'm sorry I couldn't have alerted it earlier. It is still like a Beta test.
According to Fibonacci Retracement & its corresponding Fibonacci Extension, IF the $2,200 was the lowest for price to go from which price continues upwards, then the price will rise to at least $2,900 with time while being resisted even by $2,800. Entry is Long is best when & at a retracement dip.
Report: etfdailynews.com Technicals: Fibonacci 14.5% - 23.6% retracement to 118% - 127% extension possible as cited.
Weak uptrend. Weekly, Daily, 4-Hour chart: comparison,
Chart presented shows behavior of lines related to price chart for better use (& understanding) of Traders Dynamic Index for whoever really cares about profiting. Volatility Bands relate to the price chart showing price resistance or support at the moment. Market BaseLine may show itself to be support or resistance. Supertrend & BBSR serve as price chart...
Illustrated: What I see on chart as possible price movement due to past natural movement of price. Contrasting to Bitcoin's parabolic curves upward.
Fundamental analysis is clear, Ethereum Blockchain is/was congested. Resistance at $323 Supposing blockchain clears up with flowing transactions as promised, price can rise.
Minor pullbacks seem to have to occur for such higher price, meanwhile price is rising as I see Traders Dynamic Index (indicator window) pattern occur again.
You see I circled areas the RSI (Green line) bounced off and signalled bull trend continuation off of level 50, & price upon Supertrend line (green price line support) (June 1-4, 2017) I believe price movement is currently most like that of June 1st. Price will continue to rise as Traders Dynamic Index signals continuation on my chart only, because the indicator...
As seen in chart, this repetitive move is possible. Not a Bitcoin bull hater, but being in my opinion realistic. Bitcoin will surelly go to the moon but not before corrections as we escalate to $10,000
Tempting pullback to test support of green line of Supertrend.
Explaining and linking analysis of Higher & lower Time Frame for examining better long/buy/bullish entry, developed from basic simple (generic) buy entry conditions set. Apparent buy entry at low time frame may be erroneous to enter without the the consideration of other time frames, trends, true reversal starts.
Proving Traders Dynamic Index is an outstanding tool for market technical analysis .
Entries according to my set strategy, seen precisely at 1-Min chart & checking the importance of indications according to my strategy throughout the higher timeframes. Black vertical lines are the closes of positions when 'future' was not known at the 1-Min chart and saved/locked-in profit. Will show: Other Time-Frames to see coordination and because the...
30-Min chart "bird's eye view" is beneficial for trade entry confirmation/assurance. Unmarked 30-Min Chart: Review Chart and notes to see specific reasons for entry for the 15-Min chart section > Entry contradicting past entry signal direction is its exit. I am also using other price chart indicators of resistance or support: BBSR: GRaB Candles (Murrey...