Bearish flag broken after the massive drop from last week's fundamental news and shorts taken on biftinex. BTC heading below the 6k level looking to test support levels of 59 58. Hence Short position opened with profit targets for those levels.
While everyone screams FUD and manipulation, I've been calling this breakdown for days lol. Pretty clear where this is going if we have our MAs crossing.
Previous daily analysis:
Current daily analysis:
Let us assume a correction from the current level. The top of the correction can be given by the ATR wave axis (purple line). We expect a new decreasing wave structure from the 7000 level. The resulting triple wave structure has a target price of 6700 levels.
Hi, I made a super bearish idea that might take us on 2016 prices for bitcoin -2.91% and altoins, correction is based on 3 fractals that will take 1 year and having a 70% variation on each based on first fractal .
BTC -2.91% Fractal 1. $20.000 ->$6.000
BTC -2.91% Fractal 2. $10.000 ->$3.000
BTC -2.91% Fractal 3. $5.000 ->$1.500
This is pure...
Right erm I know it looks a bit mental but if I had to try summarise... based on this chart:
1. Shouldn't see much further past $6600 range
Very similar fractals with past moves
2. Decline until ~$5050 (to make the repeated 40% + drop) around the end of August
3. (Longshot) Rise to ~$7200 around the end of September
Bitcoin analysis based on @CarpeNoctom @bravenewcoin article. C-clamp of 15% with bull div looking very similar to April's 16% C-clamp with bull div. Close above high volume $6800 level suggests we see $7800-$8200 based on confluence of Kijun + 89, 144 and 233 EMA.
Bears are still in control, value has been pulled lower and we're trading below last weeks POC @ 7521
"Usually" when we trade inside last weeks value area we test the opposite side of value (7891), the bulls have some work to do if that is to happen
7602, 7891, 8591 & 8215 are key levels on my radar for shorts
If 7251doesn't hold (last weeks value area low)...