CME Bitcoin Futures Retrace 2019

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Building on previous chart. Fibonacci downswing retrace is now 78.6%, for the 2019 descending triangle.
  • Each orange vertical line, shows a CME date that was preceded by a bounce
  • The price then drops all the way back down to test the lower trendline
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The size of the spike in CME volume may have caused the price to overshoot the triangle slightly.
After a double top in the 4100 to 4200 area, I would expect some pullback.
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After wicking to the 3900 area, we should start moving down now to the lower trendline.
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The retraces seems to be currently 90% and 78.6%:
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Beyond Technical AnalysisBitcoin (Cryptocurrency)bitcoinpriceBTCBTCUSDChart PatternsCMEcmefuturesCryptocurrencyFibonacci RetracementTrend Analysis

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