Random Analysis - 02/15/2020

This is not investment advice.  These are my thoughts that I am sharing with you.  Do not take anything that I post here as Financial Advice.  For Godsake do your own research!

Weekly Candles for BTC as of 11PM EST 02/15/2020

 $400 USD drop in a 12 hour period. This would spook most people out of trading. Believe it ir not, I think this is a good thing. A healthy pullback is always needed. These are investors pulling profit to either store or to reinvest capital into something else. This should not be feared; it should be welcomed. 

Overview

1 hour candles show us ranging between 10.4k and 10.2k since the 3rd of February. There's been a real tug of war between bulls and bears in this period. Though the Aroon shows an ebb and flow pattern,  during this period we have had extremely bullish volume. Once that volume died down, bulls were forced to capitulate. 

Using Fibonacci, I think we will go back down to 9801 if volume stays stagnant. Of course this could change at any moment. I'm looking to enter at 9965.96 and again at 9801. I will hodl there and reevaluate my position at that point. 

This is not financial advice. #DYOR