I believe that this Fib retracement is accurate and can help anyone catch a couple pips off the retracement of BTCUSD. MACD isn't amazingly strong with the slight reversal but should develop over these next couple of hours. Overall sell trend but I believe it's a short term buy. Look at the 4h mark and you will see it's constantly bounced off the 6434.59 price and hasn't shown signs of breaking that yet.
FEEDBACK welcome this is my first post public and I am hoping to be able to become an expert trader.
I am staring a huge bear flag. I dont think they are supposed to retrace.
coachnim
⋅
@sarged, please share to me why you believe it shouldn't retrace? Usually after a big drop in price its going to retrace to the 68 fib level then continue on its rapid drop. Share your thoughts
@sarged, don't forget I said short term buy... & share your thoughts with me. Why it wouldn't retrace at least the 38 or 50 fib level. You gotta give me more than a bear flag and "many others." Lol
sarged
⋅
@coachnim, lol I dont know but to me its just a bear flag
coachnim
⋅
@sarged, haha fair enough dude! so far my analysis is slowly becoming right, don't jynx me ;)
coachnim
⋅
@sarged, my analysis was spot on boss. bear flag ha maybe in a day or two