BTC - 30% losses in September before ATH's by December!
Bitcoin has shown a lot of resilience during this consolidation phase. So much so I'm having to go from bearish to neutral. Although I'm keeping my next buy target in the lower 6k's by September 30th we are once again treading water in an unknown phase. We will see a big move soon, but it's anyone's guess as to which direction we will go.
All indicators are useless during a consolidation phase like this as volatility lowers. All we know is that a big move is upon us. The RSI is holding a crucial level that I indicated at 42. The + and - Directional index are getting squeezed as volatility drops and the bulls/bears are even.
I'm leaning towards September bitcoin losing 30% and heading towards the lower 6k's which would complete this triangle pattern. I've always said Q4 will be the next parabolic move for the king of crypto and I still expect this to be the case as whales load up on 6k bitcoin price to push towards ATH's by Dec 2019. I will reverse my prediction if Bitcoin smashes through 12k and out of the descending triangle pattern. If this happens ATH's will happen much earlier this year.
All indicators are useless during a consolidation phase like this as volatility lowers. All we know is that a big move is upon us. The RSI is holding a crucial level that I indicated at 42. The + and - Directional index are getting squeezed as volatility drops and the bulls/bears are even.
I'm leaning towards September bitcoin losing 30% and heading towards the lower 6k's which would complete this triangle pattern. I've always said Q4 will be the next parabolic move for the king of crypto and I still expect this to be the case as whales load up on 6k bitcoin price to push towards ATH's by Dec 2019. I will reverse my prediction if Bitcoin smashes through 12k and out of the descending triangle pattern. If this happens ATH's will happen much earlier this year.