Fib, trend line, price level and due for 4th wave BTCUSD - 4H

13 thg 8, 2017

As I circled in yellow, it popups up to me as a strong support for BTCUSD. The reasons are listed below:

• The fib retracement is right at .382.
  
  
• price had consolidated in that area before taking off higher
  
  
• trend line crosses at the same time
  
  
• Elliot wave No. 4
  

If that happens, it will be over 20% drop. If the drop with a speed, most likely it will bounce back with power. I will be here (3154-3260) waiting...