Looks like Bitcoin is on it's way back down again, Failure to hold this support area 9400-9500 it looks set to trickle down to the 8600 regions.
This is good in some ways, consolidation and retracements are required for further long-term growth. Also allows Alt-coins to breathe.
Be careful going long, deep bear zone right now. Also, be careful going long on...
Seen strong selling at the recent test of the price zone of 4k
the origin of the move was down back a the lows of around the 3400k level
If price pushes back here there is a lower risk long position from here to re test 4k and if weakness is found go and test 5.5k levels
bitcoin bounced off its long term support, there are 2 options, we could be sat in the accumulation zone of 6400 for a while or be continue the trend and slow decline to below $5000
now what is even more interesting is BTC below $500 would open the doors to a huge cup and handle so keep your eyes peeled, this is the best case scenario!
Dangerously down, BTC just broke a support that shouldn't have been broken, it happened yesterday and the only way to come back to up trend is to return to the up channel within 48hrs ! -Now it only remains 36 hrs. Why ? Because many algorithms trade within 2 daily candles in trend, therefore if in 2 days this is not back into the upline, you could expect a deeper...
Head and shoulders has clearly formed on BTC daily. Using the theory that the drop from the neckline break is equal to the difference between the peak of the head and the neckline, I expect price to drop to around 6600. This is coincidentally, around the same price where the most recent low sits, so there could be some strong support there.
price may bounce...
With this wave count I show how my original count (to $7700) could still play out. This would be through a continuation of an ABC that would fulfill a WXY, test the 0.618 (of the macro level move) AND re-test the current downtrend line as support (line shown in red from my earlier analysis).
The sub waves are fictitious - just to be used as examples! I do not do...
I was thinking a lot about next move of BTC and saw many ideas about bubble fractal. Now I belive in it against all my desires to belive or not in this theory BTC is repeating 2014. There is Consensus in near future and I think we can see retracement to 9100 level but generaly after it we can go on lower low...
This is on the 15 minute time frame i have made good money from seeing such crossovers and
this looks like it could be one of them..Time will tell but keep an eye on the 2-4 hr charts to
see if it does cross over on that time frame for better confirmation but i just want to get this
out so people can make up their own minds..
I want to get this out quickly on...