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DennisLeeBTC

BTC Bottom Prediction

Bitcoin (BITFINEX:BTCUSD)  
DennisLeeBTC Updated   
BITFINEX:BTCUSD   Bitcoin
Trend Analysis Chart Patterns Elliott Wave
12
6
trendanalysis chartpattern elliottwaves
6950ish
Comment:
Might not make it all the way there. Algos buy at 7064. May get front run by a large hidden wall.

Buying pressure is strong, most of the selling pressure is synthetic. I think maybe all the people going long right now get bull trapped on the 4th wave, and then we get our capitulation pushing price into the institutional limit orders.

snapshot
Comment:
Note, I am by no means a Gann expert, so go easy on me.

snapshot
Comment:
Targetting lower now in the low to mid 6's. 6400 seems about right. I don't think this current rally is going to get above 7700 or we've already topped. Currently running into 50 weekly MA resistance.

snapshot
Comment:
That's the fractal from feb 5th btw. Don't get me wrong, there are a lot of reasons to be bullish. Those are easy to see. I'm just trying to hedge my bias.
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