Bitcoin is forming a huge symmetrical triangle since March 2017. In this triangle, bitcoin also made two other symmetrical triangles that looks almost similar. In both triangles, Bitcoin touched 3 times to the upper and lower trend lines.
Now it is in a very delicate decision point whether to obey the first pattern, or go for an entirely different direction.
My point is, bitcoin might see $11.500 as pointed out with arrows, and then go for a huge distribution and accumulation phase.
As for the alt season, if bitcoin follows this pattern, we may see alts pumping by the end of September until January 2020.
This is not a financial advice and please DYOR.
Tell me what you think. Please like if you liked the idea, and feel free to share.
Now it is in a very delicate decision point whether to obey the first pattern, or go for an entirely different direction.
My point is, bitcoin might see $11.500 as pointed out with arrows, and then go for a huge distribution and accumulation phase.
As for the alt season, if bitcoin follows this pattern, we may see alts pumping by the end of September until January 2020.
This is not a financial advice and please DYOR.
Tell me what you think. Please like if you liked the idea, and feel free to share.
Trade active
Trade closed: stop reached:
Stop loss worked at $10500. Now waiting for a good point for re-entry.
This rally is not over until it reached weekly resistance $11500.
If it closes above $11500, then we will see bitcoin pumping some more before a huge drop.
This rally is not over until it reached weekly resistance $11500.
If it closes above $11500, then we will see bitcoin pumping some more before a huge drop.
Trade active:
Re-entered at $10370. hourly RSI seems bullish. I am still expecting a pump up until $11500, the weekly resistance. I will watch if it will break it or not.
Trade closed manually:
There is a huge resistance around $10500. I will now just watch the alts reaction on how bitcoin will playout in the coming days.
Trade active:
Bitcoin may pump from here to $12k and then dump. Not a financial advice. But I am giving a chance for 60% up and %40 down. Let's see how it plays out.
Trade closed manually:
27 September is the last day of CME futures, so there may be another dump. But BTC can also make one last retracement and pump for the last time. Then altseason will most likely begin after BTC dominance significantly drops.
