Recap: BTC’s Price reached previous Green Target 3 and even peeped above it and now is doodling below that Green 2. Money Man is concerned about the amount of space between Decision 2 and Red 1 here on this chart. It looks so tempting, but the chart was drawn as per the system as always, so there it is. He sees the most probable current scenario as a pattern building exercise and this conflicts with that big distance. So, he thinks that the pattern should be built between Decision 1 and 2 or, if we break the bottom of Decision 2, that we could be in for some negative looking pattern. There sure is a lot of talk about BTC reaching the previous resistance of that Green 3 and now many expects it to go down back to where the move originated from. Money Man does not know, but what he does know is that BTC did put down some supports on the way up.
Conclusion: Red 1 and 2 are on top of each other, signifying how there are two supports in proximity. This suggest that area is supposed to hold some battering. Remember: No guarantees, only probabilities. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
Conclusion: Red 1 and 2 are on top of each other, signifying how there are two supports in proximity. This suggest that area is supposed to hold some battering. Remember: No guarantees, only probabilities. Very Important to me: Please like if you appreciate the effort, Please comment and develop this further and Please follow if you see this analysis thread going somewhere you would like to know about.
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