ALWAYS BET ON BLACK - Update 28BULL MARKET CONFIRMATION - HOW HIGH CAN IT GO?As you already know all price increase is followed by retracement. We are now sitting at 61.8% retracement from the major run of the last few hours.If you do not believe in this then watch these videos:If you do not know how to use Fibonacci Tools in Bitcoinwisdom Charts then look at the previous reports:Fibonacci Retracement: http://www.dailyblackcoin.com/always-bet-black-update-14/Fibonacci Extensions: http://www.dailyblackcoin.com/always-bet-black-update-21/I will use Fibonacci Extensions and Retracement to do a quick analysis of the current situation of the market and possible future moves.First the current situation of Fibonacci Retracement:Click on image for Full SizeI will use the Fibonacci Extension tool to set some possible prices at which the market is likely to pause, retrace for a next run, or change trends to a downward run.Typically this tool is best used when you have a break-out (up or down) to guestimate where the price might go in the next move.First graph shows the current condition and where might we go if we have bull run to the upside. Again these points will be validated when we break from the previous high of 37.8K.The possible next price stops given a continuation of the bull run are: 42.6K at 161.8% and 50.6K at 261.8%.Click on image for Full SizeNow I will show you how previous analysis of each break-out was pointing to the 37.8K previous high. This number is a difficult resistance to cross given our two previous attempts making this our third attempt.You can see three possible outcomes: 32.5K, 36.78K, 43.8KClick on image for Full SizeFor the second retracement we get the 32.8K, 34.8K, and 38K. Important to note that each of those numbers generated some type of retracement.Click on image for Full SizeFor the third retracement we get 36.7K, 39.4K, and 43.8K. Please note that these extension numbers point to future resistance levels and this levels become more valid when such levels have been support floor in the past or previous highs from the past.Click on image for Full SizeNote that in most analysis we are getting a major resistance level in the 42 to 43 K which agrees with the two previous attempts at breaking this resistance.Click on image for Full SizeBuy-BlackThe following two tabs change content below.BioLatest PostsBuy-BlackLatest posts by Buy-Black (see all) ALWAYS BET ON BLACK - Update 33 - May 25, 2014 ALWAYS BET ON BLACK - Update 32 - May 24, 2014 ALWAYS BET ON BLACK - Update 31 - May 16, 2014 May 3, 2014 by Buy-Black 4 comments 2702 viewson Technical Analysis by buy-blackShare this post Facebook Twitter Google plus Pinterest Linkedin Mail this article Print this article
ALWAYS BET ON BLACK - Update 2 April 19, 2014 Comments are off 3175 viewsTESTING 40K SUPPORT The sellers are cashing in at higher prices and as a result ...
ALWAYS BET ON BLACK - Update 33 May 25, 2014 Comments are off 2668 viewsWHERE IS WALDO? .. Ooops.. I mean WHERE IS BTC I woke up this morning ...
ALWAYS BET ON BLACK - Update 23 April 27, 2014 1 comment 1915 viewsFIBONACCI RETRACEMENT - LAST BUYING OPPORTUNITIES OF CHEAP BC? The typical highest profit entry ...
ajvazi bardhokMay 3, 2014 at 21:26 we have a lot of indicators for chart. Fibonacci is a useful tool, but we have also:- Parabolic SAR - MACD - Bollinger bands - ichimoku - RSI indicatorsWhy you dont use them all ?
Buy-BlackMay 5, 2014 at 02:50 Most of those indicators (parabolic SAR, Bollinger bands, ichumoku) are not available in Bitcoinwisdom charts.
