A lot of my analysis is based off of US markets, DXY, and where I think the economy will be next year. Let's see
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Let's zoom in a bit on the 4 hour. Is BTC printing its famous Adam and Eve Pattern before heading up? ...we shall see
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Path is TBD. Here is another path idea
Trade closed manually:
I am starting to think BTC is going down much further unless the Adam and Eve idea posted here ends up playing out. I don't want to give false hope. Good luck to you all. I will post again when things become more clear
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I'll leave you with this thought on a smaller timeframe so you can compare to your own analysis ... good luck
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A last thought ...could 16.8k be bottom? hmm..I truly wonder
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I think we may be printing an ascending triangle now which means the bottom may have been in but of course we shall see. BTC could surely go lower. Here is my updated prediction
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In the short term, I think BTC goes down over night (US time) into the 13th and hits the bottom (19,150k area) of the ascending triangle and then starts to head up...maybe this extends to the 14th but I'm doubtful. Let's see and good luck to you all
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It could extend to the 14th...I changed my mind :) ...this idea will be validated or invalidated in a couple of days IMO...good luck to you all
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Well here we are at the 14th...so far the ascending triangle pattern is shaping up IMO. Could BTC drop down to the wedge line? For sure ...but will it?
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Will BTC loose everything it just gained?
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Here is a small time frame prediction...BTC seems to be in a pattern of an ascending head and shoulders and then takes off after it hits the neckline from the head...will it happen again? If so it will be a good weekend as I'm predicting DJI will end strong this week as well now but of course time will tell ...good luck!
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Which way will BTC go? We will soon find out
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Its really hard to not think we are going up from here...perhaps a flash crash down and then back up but looks good to me...we shall see
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Please do your own research...this is not financial advice. Just my opinion
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Well I should have stuck with my initial 21k area down...here is what I see for the time being. Good luck
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I think sideways and up over the next 60 days to match my DJI prediction...let's see
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update...
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DJI pulling back?...will BTC follow the same pattern? We shall see
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Let's give it a couple of days and see if it heads down to the target
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can it keep going up?
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lots of patience required now...we wait for confirmation
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maybe something like this ...very curious
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My updated long term trading plan...
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Bulls or Bears? Let's see who wins
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Can BTC bounce off of 23.5k or is there more down in the cards?
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Maybe something like this for the next month and beyond...
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Will BTC take off or do something like this?
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Not looking good but its BTC ..anything happen
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It looks like sideways for a week or so before another decision to me. I am hoping things will be much clearer around that time on which way it may go. We must think bearish and be surprised if bullish so let the market decide...good luck!
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If for some reason DJI sells off at the end of the day I expect something like this...
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hmm ..there is quite a bit support here..updating target
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LOL DJI probably going to find some recovery before the day ends ..that little spike was probably it ...back to sideways for a week or so IMO. We always need to be prepared for a classic while your sleeping BTC drop though... good luck
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BTC will bounce a bit, but when and where? BTC doesn't look good at all overall sadly and we should prepare for more down in the near future...trade safe
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thought on BTC's next moves...
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Here is my thoughts ...I think folks are scared about the FED meeting tomorrow and it will drop BTC overnight (US time) and then rise back up for a month or so before deciding again what to do with the FED Sept 22 meeting...let's see if this logic plays out. It will all depend on how DJI closes today IMO...good luck
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another option until tomorrow morning after 10AM EST ...let's see
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Well BTC didn't head down to 20k but its on its way IMO. Powell's outlook is grim for market growth that is. Sept rate hike will likely be larger than projected was my take. They must take the necessary measures and it will be greater pain later if they don't act now. Seems pretty straight forward to me. I am not an expert but I would think this would knock markets down quite a bit. How much is baked in to the market now is the question (most expected Powell to be hawkish) I am not able to answer myself. This is for the more experienced trader though I am watching and learning to get there. Good luck and trade safe
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After that close by the Dow, there isn't much to look forward to this long weekend IMO. Let's see
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On the positive side, prepare for some ALT discounts...
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hmm..maybe BTC can stay flat all weekend so some ALTS can rise? ..a possibility before resuming down again next week along with the Dow? We shall see..just food for thought
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I'm not too sure what BTC is up to but this is a fake rally IMO...here is my current thought...
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I personally think 15k is bottom but we shall see ...I think a slow rally from this price back up picking up steam until the end of the year...if 15k can't hold brrr...its going to be a cold winter
Trade closed: stop reached:
Closing this idea as I have another idea open as of yesterday...I think BTC is poised to go lower and this idea may have lost its validity. The CPI report this morning certainly will impact the market in the month of September.