BTCUSD - FIB Study - Potential Future Price Action in White.
I'm estimating the price action to fall down somewhere in between the 0.382 and 0.5 FIB Retrace I placed on the chart by the end of this weekend then potentially turn back up one more time to a high around $13,100 before potentially falling back down in September to fill the Bitcoin CME Futures Gap. Do we have to fill the gap we see in the CME Futures Daily Time Frame? No, but we have yet to see a gap in the DAILY not get filled yet to my knowledge. That alone tells me NOT to ignore it.
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UPDATE:
Looks like "Longs" are getting spooked and "Shorts" are taking profit as anticipated. I don't think we have enough "Longs" spooked yet though.
Current progress looking at the 2-Day Time Frame:
Looks like "Longs" are getting spooked and "Shorts" are taking profit as anticipated. I don't think we have enough "Longs" spooked yet though.
Current progress looking at the 2-Day Time Frame:
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