Good day time!
Simple doesnt mean bad, yep?:) I was partly right about trading near 4700. Check it in previous idea.
I see the following outcomes: three lines from the existing chart displays possible movement from now. Considering the consolidation of 4700 i believe we will bounce to one of this prices with the next reasons:
1. 4900-4940 because this is the tipical model for the signle wave for the last time.
2. 5000 because it`s the previous ATH and the psychological barrier
3. 5100 - price that touches the local resistance. And i think that some people want to refresh the previous ATH.
However, we should take into consideration, that we could broke 5k last time, and that`s why we will not go any higher because we consolidated that level both technicaly and psychologically.
One more important detail is the bitcoin gold. Till the end of the october people want to hold btc to get free btc gold, and i cant say how it can influence on the market. Logically, we should stay in tight zone between 4900-5100 for example and then have a dump.
Some confusing moments: last volume size was enormous, however, on the 1d time frame volume is falling. Why it bothers me? because on 2-4 h timeframe volume indexes showing his ability to pull up, and after that prices continued to grow.
These are the possible targets for the near future, and considering all the facts the conclusion is: I dont see any possibility to grow further, 5100 is maximum and i believe that will be good correction and flat till the end of the year. In favor of this point of view talks TA and my own periodic theory (you can check it on my page, oct 2 idea). One more outcome: reach the local support, recharge and make one more wave up to one of the prices above, strong divergence will be formed till that time, this process will be ended to the time of the fork and then we`ll see dump.
Strategy: If we go up, i`d prefer to wait untill 5k, and then, depending on the volume, impulse and indicators indexes make the decision.
Thank you for attention!
Tommorow will be the educational post.
Good mood for everyone!
Simple doesnt mean bad, yep?:) I was partly right about trading near 4700. Check it in previous idea.
I see the following outcomes: three lines from the existing chart displays possible movement from now. Considering the consolidation of 4700 i believe we will bounce to one of this prices with the next reasons:
1. 4900-4940 because this is the tipical model for the signle wave for the last time.
2. 5000 because it`s the previous ATH and the psychological barrier
3. 5100 - price that touches the local resistance. And i think that some people want to refresh the previous ATH.
However, we should take into consideration, that we could broke 5k last time, and that`s why we will not go any higher because we consolidated that level both technicaly and psychologically.
One more important detail is the bitcoin gold. Till the end of the october people want to hold btc to get free btc gold, and i cant say how it can influence on the market. Logically, we should stay in tight zone between 4900-5100 for example and then have a dump.
Some confusing moments: last volume size was enormous, however, on the 1d time frame volume is falling. Why it bothers me? because on 2-4 h timeframe volume indexes showing his ability to pull up, and after that prices continued to grow.
These are the possible targets for the near future, and considering all the facts the conclusion is: I dont see any possibility to grow further, 5100 is maximum and i believe that will be good correction and flat till the end of the year. In favor of this point of view talks TA and my own periodic theory (you can check it on my page, oct 2 idea). One more outcome: reach the local support, recharge and make one more wave up to one of the prices above, strong divergence will be formed till that time, this process will be ended to the time of the fork and then we`ll see dump.
Strategy: If we go up, i`d prefer to wait untill 5k, and then, depending on the volume, impulse and indicators indexes make the decision.
Thank you for attention!
Tommorow will be the educational post.
Good mood for everyone!