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)...
As BTC approaches the psychological barrier of 10 000 dollars, it saw resistance at an important Fibonacci level of 0.618 measured from the high 11750 to the low of 6430. The proposed primary count also has its wave 1 equal to wave 5 which is a common ratio when there is extended wave 3. There is also decline in buying power as we are approaching the...