BITCOIN LOOKING TO GO DOWN FURTHER

DATE: 05/17/18
SYMBOL: XBTUSD
RESISTANCE: SPIKE HIGH 8896.3 / FIB 61.8 (8639.3)

SUPPORT: SPIKE LOW 8085.6 / FIB 50 (8230.7)

WHERE WITHIN: CURRENTLY IN LOWER RANGE OF CHANNEL

PATTERN: LARGE BEAR FLAG

NEXT SUPPORT: FIB 38.2 (7822.1) CLOSER TO 7725

MA: 50 JUST CROSSED UNDER 200
MACD: UNDER
RSI: 41
CCI: -122

TREND EXPECTATION: WATCH FOR BOUNCE AT SUPPORT FIB 50 (8230.7). PROBABLY DROPPING LOWER TO NEXT SUPPORT OF 7822.1

ENTRY: TREND MUST BREAK ABOVE FIB 61.8 (8639.3). APPEARS TO WANT TO BREAK SUPPORT. NO ENTRY AT THIS TIME DUE TO HOW CLOSE TO BREAKING SUPPORT.

***THIS IS NOT ADVICE FOR YOU. DO YOUR OWN DUE DILIGENCE.***