As an update from my previous BTC chart set on a slightly more bullish fib, analysis now indicating a more acute bearish adjustment is coming.
ShortTerm Trend - LONG
Current trend would suggest a bull trap will still occur, but with two possible retracements to the following:
D - 11,581 (in line with 50.0% fib)
D2 - 9,555 (in line with 61.8% fib)
LongTerm Trend - SHORT
Assuming the projected bulltrap has enough buy volume to hit the upper support at either point, we would then see a number of possible scenarios, depending on the volume mix and the support line scenario. For example, LS1 would suggest a more bullish market, and see a lowside scenario of around 5350 (E). Alternatively, LS2 would suggest a far more bearish market with the formation of a falling channel, and a lowside scenario of around 3000-1860. Mapping against key long term supports, key intersections would suggest the following LL scenarios:
E - 5350
E2 - 3000 (in line with 100% fib)
E3 - 1860
Assumption
Considering the current volume mix, with significant volume leaving the market causing compressed correction waves across almost all coins at this stage, a conservative estimate would suggest a move to D2 (9555) followed by a move to E2 (3000) in line with the 100% fib level.
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Opinion not advice
Comments welcome - 1B2rBfu9X4nms6EtuQWDQuNy87Jn9hYkJs for BTC donations if you find this helps, and want to give back!
ShortTerm Trend - LONG
Current trend would suggest a bull trap will still occur, but with two possible retracements to the following:
D - 11,581 (in line with 50.0% fib)
D2 - 9,555 (in line with 61.8% fib)
LongTerm Trend - SHORT
Assuming the projected bulltrap has enough buy volume to hit the upper support at either point, we would then see a number of possible scenarios, depending on the volume mix and the support line scenario. For example, LS1 would suggest a more bullish market, and see a lowside scenario of around 5350 (E). Alternatively, LS2 would suggest a far more bearish market with the formation of a falling channel, and a lowside scenario of around 3000-1860. Mapping against key long term supports, key intersections would suggest the following LL scenarios:
E - 5350
E2 - 3000 (in line with 100% fib)
E3 - 1860
Assumption
Considering the current volume mix, with significant volume leaving the market causing compressed correction waves across almost all coins at this stage, a conservative estimate would suggest a move to D2 (9555) followed by a move to E2 (3000) in line with the 100% fib level.
-------------------------------------------------------------------------
Opinion not advice
Comments welcome - 1B2rBfu9X4nms6EtuQWDQuNy87Jn9hYkJs for BTC donations if you find this helps, and want to give back!
