Here is my updated thoughts about BTC (short term and mid term). I appreciate your supports with your likes/comments. Thanks.
In general, I am bullish (mid-long term) and I think our next major target will be at least $14k and potentially $16k.
I found a very similar pattern between current price action and what we had between 14 May 19 to 6 Jun 19 (hereafter called “previous timeframe”). I showed 7 sections with orange arrows. It seems we are around arrow 5 or already passed it and 6 has started. Note that the cycles in this round is shorter than the cycles in the previous timeframe. I think this is because we are getting closer and closer to the real top. In general, from Feb 2019 to today, every cycles are getting shorter and wilder (sharper moves)!
In my previous post (www.tradingview.com/...buy-in-price-10-800/) I said my buy-in price would be $10800. Based I current information and comparing with the previous timeframe, I change it to the range of $11,000 - $11,350 (which is between the 61%-78% fib retracement levels, see the right green box). In the previous timeframe we found the last local bottom between these two levels (see the left green box).
Good luck,
In general, I am bullish (mid-long term) and I think our next major target will be at least $14k and potentially $16k.
I found a very similar pattern between current price action and what we had between 14 May 19 to 6 Jun 19 (hereafter called “previous timeframe”). I showed 7 sections with orange arrows. It seems we are around arrow 5 or already passed it and 6 has started. Note that the cycles in this round is shorter than the cycles in the previous timeframe. I think this is because we are getting closer and closer to the real top. In general, from Feb 2019 to today, every cycles are getting shorter and wilder (sharper moves)!
In my previous post (www.tradingview.com/...buy-in-price-10-800/) I said my buy-in price would be $10800. Based I current information and comparing with the previous timeframe, I change it to the range of $11,000 - $11,350 (which is between the 61%-78% fib retracement levels, see the right green box). In the previous timeframe we found the last local bottom between these two levels (see the left green box).
Good luck,
