Bitcoin price action review for 9/22/17

Bitcoin chart

Here is my review of the Bitcoin (BTC) price action for 9/22/17. Below is a 4-HR chart and we can see that earlier today that it has bounce off the 50% retracement and with a bullish engulfing candle. Iit is possible that this is a short term low. Volume was not very convincing off the bottom so I and guessing the level will not hold. So if you want to go long put a stop around $3,510.

I am still looking for it to continue down to the 61.8% retracement level around $3,414. As it approaches it we will have more info to determine who is in charge, the BULLS or BEARS

Questions and comments welcome.

All ideas , trade signals , opinions and/or forecasts are for informational, educational and research purposes only and should not be construed as a recommendation to invest, trade, and/or speculate .