I believe my forecast posted in the 4 hour chart of min $6,399 will hold a closing 2 hour candlestick or 4 hour candlestick above this min. I don't think my other forecast posted with the 4 hour chart of $7,384 will (see posting of 4 hour chart for how I arrived at these calculations). The Fib lines I've inserted appear to be working well which I think gives credence to this worst case scenario. If you check out my last posting "Bitcoin GPS where are we ? " it's my best and most colourful ever and includes how all my other ideas have been doing on 4 hour chart. My most recent worst mistake was going bull with stop at $8,150, and getting caught in a bear trap. Can't win all the time.
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Note: My red horizontal lines of $7,390 and $6,409 are placed slightly above $7,384 and $6,399 so that I get an alert before price hits.
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Update just posted my latest post entitled "Death of the Bears. Worst case scenario Y/N". If you also check out my last posting "Bitcoin GPS where are we ?" it's my best ever and includes how all my other ideas have been doing on 4 hour chart. My most recent worst mistake was going bull with stop at $8,150, and getting caught in a bear trap. Can't win all the time.
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Sorry last comment was to update on other postings !!!
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If anybody wants to check my latest postings or all my postings just click on the "F" symbol with purple background.
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Based on the last showdown in February, my wildest prediction is that the last of the Bears will be taken out tomorrow, Monday, 19th March, by the time the Far East heads for lunch.
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Basically, if you want to catch the low or the bounce I think now is the time to watch.
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Just seen a rise from $,7458. Some $620. I think its another bear trap, and could be indicating just another flag for the next leg down. Also I could not spot any of my signals to go bull. There is only $841 in it left from the low of $7,240 before it reaches my target low of $6,399. Interestingly, currently the difference between the current run up from $7,240 to $8,080 is also $841/$840.
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My latest posting - I have to go cautiously bullish . Thought was seeing another bear flag - big one, but not so sure now as market holding up too long. On 4 hour chart my first leg target has been hit MACD and Stoch RSI all looking bullish . I think it would have been better for a recovery had market gone lower to repeat pattern of last dive in February. Price on the 4 hour chart has also broken through 20 bar MA, and I guess needs to hold on to that. Interesting to see what happens around $8,604. A strong break through on the 2 hour chart to touch my Bollinger lines would be further bullish for me (my Bollinger's set 20,close,3). Patterns look bullish but none of my confirmation signals yet. Maybe will get some pullback ? The high in December was over by midday London time. Maybe this last phase waiting till midday London time today?
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The rise in the 2hr bar of $842 compares ok with rise of $911 from February's low, and the low from $7,240 is a credible support level.
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Shame G20 got in the way of a more attractive low.