Looks like Neo failed to climb over the major fibo resistance and remains in the descending channel. I am expecting further downward pressure against Bitcoin at this time.
Key levels to watch to the upside:
- Sub-fibo ressitance at 0.00688
- Key fibo resistance at 0.00768
- A breach of the downtrend line to the upside
Key levels to watch to the downside:
- End of the long box at 0.00617
- Sub-key fibo support at 0.00568
- Major key fibo support at 0.00553
Key levels to watch to the upside:
- Sub-fibo ressitance at 0.00688
- Key fibo resistance at 0.00768
- A breach of the downtrend line to the upside
Key levels to watch to the downside:
- End of the long box at 0.00617
- Sub-key fibo support at 0.00568
- Major key fibo support at 0.00553
Komen:
Correction wave-D?
Komen:
Wahooo! We breached the trendline and major key support line. Looking for signs of stability in the major long box.
Komen:
There are two trading range supports in the long box (I don't have a chart atm). Odds are high there will be a reversal here at one of those, or at the edge of the box. We should then swing around back to the sub-fibo level (purple line where we have correction point D).
Komen:
Trading below the major key fibo. This is a long box area where a reversal is likely, particularly at correction point E.
Komen:
We are at point E! Watch the chart!
