Quick update
Short term:
Very bearsish as predicted. See previous publish.
Mid term:
Very bearish. 2nd time btcusd gets rejected at same price regions. Hence confirming current pattern resistance. Has been going down ever since. See chart for possible bottoms.
Long term:
Very bullish. Regardless which bottom it becomes. The mid term analysis shows that it's most likely going to evolve into a bullish pattern. Which has a bearish trend however a high probability of breaking out bullish. This is what I've been talking about in my previous publishes. Hence why I'm bullish in the long term. Mid term pattern will either become a (broadening) ascending triangle or wedge. Either way they have both high probability of breaking bullish. I have strong sense that this will kick off a new bull run. In other words, start of a new market cycle. Which always starts bullish ;).
Good luck guys and may the trend gods be with you.
Short term:
Very bearsish as predicted. See previous publish.
Mid term:
Very bearish. 2nd time btcusd gets rejected at same price regions. Hence confirming current pattern resistance. Has been going down ever since. See chart for possible bottoms.
Long term:
Very bullish. Regardless which bottom it becomes. The mid term analysis shows that it's most likely going to evolve into a bullish pattern. Which has a bearish trend however a high probability of breaking out bullish. This is what I've been talking about in my previous publishes. Hence why I'm bullish in the long term. Mid term pattern will either become a (broadening) ascending triangle or wedge. Either way they have both high probability of breaking bullish. I have strong sense that this will kick off a new bull run. In other words, start of a new market cycle. Which always starts bullish ;).
Good luck guys and may the trend gods be with you.
Comment:
Currently it's looking like an old school pump & dump. However, we'll see at the end of the week if the weekly candle closes significantly above or below the current resistance.
Comment:
Looking pretty bullish short term. As stated before, waiting for candles to close above or below the resistance for confirmation. Apparently it closed the weekly candle significantly above the resistance. Hence I find this quite bullish perhaps this is start of new bull rally!
