Bitcoin repeating oscillations, fib levels

Bitcoin repeating oscillations, fib levels

Bitcoin / Dollar BITSTAMP:BTCUSD


Bitcoin             seems to be cycling with symmetry, although duration is increasing. Currently it is respecting the 0.618 fib level of the previous oscillation (as did previous) and there is plenty of bearish divergence on the 4H. After the previous twin peak, Bitcoin             sold off 42%, and 45% before that. So after if Bitcoin             continues pattern, it could double top after this retracement at around $8500-$8700 and then sell off 39% to approx $5130, with a bear flag abc correction along the way. New lows could trigger selling pressure and it would be interesting to see reaction of 5K breached.

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